First Trust Financial AlphaDEX Fund (NYSEARCA:FXO) Sees Large Volume Increase – Still a Buy?

Shares of First Trust Financial AlphaDEX Fund (NYSEARCA:FXO) saw unusually-high trading volume on Wednesday . Approximately 50,770 shares traded hands during trading, a decline of 29% from the previous session’s volume of 71,594 shares.The stock last traded at $56.53 and had previously closed at $56.28.

First Trust Financial AlphaDEX Fund Trading Up 0.5 %

The firm has a 50 day simple moving average of $54.95 and a 200 day simple moving average of $50.69. The firm has a market capitalization of $1.05 billion, a PE ratio of 12.74 and a beta of 1.00.

Hedge Funds Weigh In On First Trust Financial AlphaDEX Fund

A number of institutional investors and hedge funds have recently modified their holdings of the company. Secure Asset Management LLC lifted its position in First Trust Financial AlphaDEX Fund by 115.6% during the second quarter. Secure Asset Management LLC now owns 85,048 shares of the company’s stock valued at $3,937,000 after purchasing an additional 45,600 shares in the last quarter. Plotkin Financial Advisors LLC purchased a new position in First Trust Financial AlphaDEX Fund during the third quarter valued at $1,779,000. LPL Financial LLC lifted its position in First Trust Financial AlphaDEX Fund by 2.4% during the second quarter. LPL Financial LLC now owns 1,384,081 shares of the company’s stock valued at $64,069,000 after purchasing an additional 31,882 shares in the last quarter. Onyx Bridge Wealth Group LLC purchased a new position in First Trust Financial AlphaDEX Fund during the third quarter valued at $1,509,000. Finally, Cambridge Investment Research Advisors Inc. lifted its position in First Trust Financial AlphaDEX Fund by 39.9% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 103,048 shares of the company’s stock valued at $4,770,000 after purchasing an additional 29,370 shares in the last quarter.

About First Trust Financial AlphaDEX Fund

First Trust Financials AlphaDEX Fund (the Fund) is an exchange-traded fund. It seeks investment results that correspond generally to the price and yield of an equity index called the StrataQuant Financials Index (the Index). The StrataQuant Financials Index is an enhanced index created and administered by the AMEX, which employs the AlphaDEX stock selection methodology to select stocks from the Russell 1000 Index.