First Trust Materials AlphaDEX Fund (NYSEARCA:FXZ) Trading 0.7% Higher – Here’s Why

Shares of First Trust Materials AlphaDEX Fund (NYSEARCA:FXZ) rose 0.7% on Friday . The stock traded as high as $60.52 and last traded at $60.15. Approximately 20,179 shares were traded during mid-day trading, a decline of 52% from the average daily volume of 41,853 shares. The stock had previously closed at $59.76.

First Trust Materials AlphaDEX Fund Trading Up 0.7 %

The firm has a 50-day simple moving average of $60.80 and a two-hundred day simple moving average of $63.68. The company has a market capitalization of $363.91 million, a price-to-earnings ratio of 9.32 and a beta of 1.04.

Hedge Funds Weigh In On First Trust Materials AlphaDEX Fund

A number of hedge funds have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC lifted its stake in First Trust Materials AlphaDEX Fund by 23.9% in the third quarter. Sanctuary Advisors LLC now owns 25,913 shares of the company’s stock valued at $1,694,000 after acquiring an additional 4,993 shares during the last quarter. Flow Traders U.S. LLC bought a new position in shares of First Trust Materials AlphaDEX Fund during the 3rd quarter valued at $439,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of First Trust Materials AlphaDEX Fund in the 3rd quarter valued at $383,000. Etfidea LLC boosted its holdings in First Trust Materials AlphaDEX Fund by 4.4% in the third quarter. Etfidea LLC now owns 53,635 shares of the company’s stock worth $3,596,000 after purchasing an additional 2,272 shares in the last quarter. Finally, ROI Financial Advisors LLC increased its position in First Trust Materials AlphaDEX Fund by 4.8% during the third quarter. ROI Financial Advisors LLC now owns 8,360 shares of the company’s stock worth $560,000 after buying an additional 384 shares during the last quarter.

About First Trust Materials AlphaDEX Fund

The First Trust Materials AlphaDEX Fund (FXZ) is an exchange-traded fund that is based on the StrataQuant Materials index. The fund tracks a tiered, equal-weighted index of large- and mid-cap basic materials firms in the US. Holdings are selected and weighted based on growth and value metrics. FXZ was launched on May 8, 2007 and is managed by First Trust.