First Trust Technology AlphaDEX Fund Sees 0.5% Drop Amid Low Trading Volume

The share price of the First Trust Technology AlphaDEX Fund (NYSEARCA:FXL) decreased by 0.5% during mid-day trading on Tuesday, reaching a low of $170.68 before closing at $171.28. Trading volume was notably low, with only 12,642 shares exchanged, a decline of 37% compared to the average session volume of 20,157 shares. The previous closing price was $172.21.

Market Performance Overview

The First Trust Technology AlphaDEX Fund has a market capitalization of approximately $1.46 billion. Its price-to-earnings ratio stands at 21.63, while its beta is measured at 1.19, indicating its volatility relative to the market. The fund’s fifty-day moving average price is $168.98, and the two-hundred-day moving average price is $163.75.

Institutional Trading Activity

Recent trading activity indicates that several hedge funds have adjusted their positions in the First Trust Technology AlphaDEX Fund. For instance, Kestra Private Wealth Services LLC increased its holdings by 2.6% during the third quarter, now owning 31,453 shares valued at approximately $5.28 million after acquiring an additional 797 shares.

Similarly, Mariner LLC raised its stake by 28.0%, bringing its total to 5,634 shares worth roughly $947,000 following a purchase of 1,231 shares. Lido Advisors LLC also entered the fund with a new stake valued at $201,000. Additionally, Equitable Holdings Inc. increased its position by 2.5%, now holding 6,248 shares valued at about $1.05 million after adding 152 shares in the last quarter. Lastly, Private Advisor Group LLC grew its investment by 1.5%, now owning 11,808 shares valued at around $1.98 million.

The First Trust Technology AlphaDEX Fund is designed to track the performance of the StrataQuant Technology Index. This index employs the AlphaDEX stock selection methodology to identify stocks from the Russell 1000 Index based on various growth and value factors. The methodology includes metrics such as three, six, and twelve-month price appreciation, sales to price ratios, and one-year sales growth, alongside value factors like book value to price and return on assets.

Investors are closely monitoring these developments as they assess the fund’s performance in a fluctuating market landscape.