First Trust Materials AlphaDEX Fund (NYSEARCA:FXZ) Shares Down 0.7% – Time to Sell?

First Trust Materials AlphaDEX Fund (NYSEARCA:FXZ)’s stock price dropped 0.7% on Friday . The stock traded as low as $56.47 and last traded at $56.76. Approximately 36,727 shares traded hands during mid-day trading, an increase of 2% from the average daily volume of 36,029 shares. The stock had previously closed at $57.16.

First Trust Materials AlphaDEX Fund Stock Performance

The firm has a market capitalization of $343.40 million, a PE ratio of 9.32 and a beta of 1.04. The stock’s 50-day simple moving average is $63.37 and its 200-day simple moving average is $64.49.

Hedge Funds Weigh In On First Trust Materials AlphaDEX Fund

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Cornerstone Planning Group LLC raised its holdings in First Trust Materials AlphaDEX Fund by 8.2% in the third quarter. Cornerstone Planning Group LLC now owns 134,255 shares of the company’s stock worth $8,858,000 after purchasing an additional 10,152 shares in the last quarter. Etfidea LLC increased its stake in shares of First Trust Materials AlphaDEX Fund by 4.4% in the 3rd quarter. Etfidea LLC now owns 53,635 shares of the company’s stock worth $3,596,000 after acquiring an additional 2,272 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in First Trust Materials AlphaDEX Fund by 0.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 49,645 shares of the company’s stock valued at $3,218,000 after acquiring an additional 197 shares during the period. Jane Street Group LLC boosted its stake in First Trust Materials AlphaDEX Fund by 15.7% during the third quarter. Jane Street Group LLC now owns 42,837 shares of the company’s stock worth $2,872,000 after acquiring an additional 5,823 shares in the last quarter. Finally, Purus Wealth Management LLC grew its holdings in First Trust Materials AlphaDEX Fund by 1.7% in the second quarter. Purus Wealth Management LLC now owns 34,208 shares of the company’s stock worth $2,217,000 after purchasing an additional 578 shares during the period.

First Trust Materials AlphaDEX Fund Company Profile

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.