First Trust NASDAQ-100 Ex-Technology Sector Index Fund (NASDAQ:QQXT) Sees Large Increase in Short Interest

Key Points

• Short interest in QQXT surged 83.3% in June, reaching 42,624 shares as of June 30, with about 2.7% of shares short sold.
• Several hedge funds recently added or increased positions in the ETF, including Cetera Investment Advisers, which boosted its stake by 31.7%.
• QQXT opened at $100.31, trading near its 50-day and 200-day averages, and recently paid a quarterly dividend of $0.187, implying a 0.7% annualized yield.

First Trust NASDAQ-100 Ex-Technology Sector Index Fund (NASDAQ:QQXT - ) was the recipient of a significant growth in short interest during the month of June. As of June 30th, there was short interest totaling 42,624 shares, a growth of 83.3% from the June 15th total of 23,248 shares. Based on an average trading volume of 14,488 shares, the short-interest ratio is currently 2.9 days. Approximately 2.7% of the company's shares are short sold.

Hedge Funds Weigh In On First Trust NASDAQ-100 Ex-Technology Sector Index Fund

A number of hedge funds have recently modified their holdings of the business. Providence Capital Advisors LLC purchased a new stake in First Trust NASDAQ-100 Ex-Technology Sector Index Fund in the 4th quarter valued at about $25,000. Northwestern Mutual Wealth Management Co. acquired a new position in First Trust NASDAQ-100 Ex-Technology Sector Index Fund in the fourth quarter valued at about $27,000. JPMorgan Chase & Co. purchased a new position in First Trust NASDAQ-100 Ex-Technology Sector Index Fund during the third quarter worth about $228,000. Independent Financial Group LLC purchased a new position in First Trust NASDAQ-100 Ex-Technology Sector Index Fund during the first quarter worth about $254,000. Finally, Cetera Investment Advisers increased its position in shares of First Trust NASDAQ-100 Ex-Technology Sector Index Fund by 31.7% during the second quarter. Cetera Investment Advisers now owns 3,337 shares of the company's stock valued at $330,000 after acquiring an additional 804 shares during the last quarter.

First Trust NASDAQ-100 Ex-Technology Sector Index Fund Stock Performance

Shares of First Trust NASDAQ-100 Ex-Technology Sector Index Fund stock opened at $100.31 on Friday. The stock has a 50 day moving average of $98.08 and a 200 day moving average of $99.29. The firm has a market capitalization of $155.48 million, a price-to-earnings ratio of 23.20 and a beta of 0.83. First Trust NASDAQ-100 Ex-Technology Sector Index Fund has a fifty-two week low of $95.86 and a fifty-two week high of $104.06.

First Trust NASDAQ-100 Ex-Technology Sector Index Fund Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Thursday, June 25th were paid a $0.187 dividend. This represents a $0.75 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Thursday, June 25th.

About First Trust NASDAQ-100 Ex-Technology Sector Index Fund

The First Trust NASDAQ-100 Ex-Technology Sector Index Fund (QQXT) is an exchange-traded fund that is based on the NASDAQ-100 Ex-Tech Sector index. The fund tracks an equal-weighted index of NASDAQ 100 stocks that excludes technology companies. QQXT was launched on Feb 8, 2007 and is managed by First Trust.

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