First Trust Materials AlphaDEX Fund (NYSEARCA:FXZ) Stock Price Down 0.7% – Here’s Why

Shares of First Trust Materials AlphaDEX Fund (NYSEARCA:FXZ) dropped 0.7% on Friday . The company traded as low as $56.47 and last traded at $56.76. Approximately 36,727 shares changed 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 Trading Down 0.7 %

The company’s 50-day moving average is $63.59 and its two-hundred day moving average is $64.58. The stock has a market capitalization of $343.40 million, a P/E ratio of 9.32 and a beta of 1.04.

Institutional Investors Weigh In On First Trust Materials AlphaDEX Fund

A number of hedge funds have recently made changes to their positions in FXZ. Private Advisor Group LLC increased its holdings in shares of First Trust Materials AlphaDEX Fund by 3.9% during the second quarter. Private Advisor Group LLC now owns 11,180 shares of the company’s stock valued at $725,000 after purchasing an additional 421 shares during the period. Arbor Capital Management Inc. ADV bought a new stake in shares of First Trust Materials AlphaDEX Fund during the 2nd quarter worth about $548,000. Zions Bancorporation N.A. acquired a new stake in shares of First Trust Materials AlphaDEX Fund in the 2nd quarter worth approximately $60,000. CoreCap Advisors LLC acquired a new stake in shares of First Trust Materials AlphaDEX Fund in the 2nd quarter worth approximately $425,000. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of First Trust Materials AlphaDEX Fund by 0.4% in the second 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 in 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.