First Trust Technology AlphaDEX Fund
FXL
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- First Trust Technology AlphaDEX Fund (FXL) is an exchange-traded fund that seeks investment results tracking the StrataQuant Technology Index, a modified equal-dollar weighted benchmark comprising large- and mid-cap U.S. technology stocks selected and tiered based on fundamental growth and value factors using the proprietary AlphaDEX screening methodology; the fund holds approximately 102 stocks with top holdings including Palantir Technologies Inc., Reddit Inc., Amkor Technology Inc., Broadcom Inc., and Amphenol Corp., representing technology hardware, software, semiconductors, internet services, and electronic equipment subsectors. Launched on May 8, 2007 and managed by First Trust Advisors L.P., headquartered in Wheaton, Illinois, FXL primarily serves individual and institutional investors seeking tactical exposure to the U.S. technology sector through NYSE Arca-traded shares, with assets under management exceeding $1.3 billion, an expense ratio of 0.62%, and daily liquidity. The fund operates exclusively in U.S. equities, with over 98% allocation to domestic technology firms across communication equipment, electronic components, IT services, semiconductors, and software industries. Recent portfolio adjustments in 2024-2025 reflect ongoing rebalancing under the AlphaDEX methodology, including sales of SentinelOne Inc., additions to Elastic NV and Confluent Inc., and shifts in cybersecurity and cloud software holdings such as Fortinet Inc., Workday Inc., and Dynatrace Inc., alongside routine dividend distributions like $0.0332 per share in December 2024; First Trust Advisors also announced trustee elections and board appointments in May 2025 and March 2024 to support governance amid expanding ETF operations.