First Trust NASDAQ-100 Ex-Technology Sector Index Fund (NASDAQ:QQXT) Shares Down 0.6% - Here's Why

Key Points

• First Trust NASDAQ-100 Ex-Technology Sector Index Fund (QQXT) shares fell by 0.6%, trading at $98.80 with a significant decline in daily trading volume.
• The fund recently announced a quarterly dividend of $0.1606 per share, resulting in an annual yield of 0.7% for shareholders recorded prior to the ex-dividend date.
• Several hedge funds have recently initiated new positions in QQXT, with notable investments totaling over $1 million from various institutional investors.

First Trust NASDAQ-100 Ex-Technology Sector Index Fund (NASDAQ:QQXT - Get Free Report)'s share price traded down 0.6% during mid-day trading on Thursday . The company traded as low as $98.74 and last traded at $98.80. 31,678 shares were traded during mid-day trading, a decline of 69% from the average session volume of 103,502 shares. The stock had previously closed at $99.41.

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

The stock has a 50-day simple moving average of $98.78 and a 200-day simple moving average of $96.32. The stock has a market cap of $1.12 billion, a P/E ratio of 23.20 and a beta of 0.98.

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

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Thursday, June 26th were paid a dividend of $0.1606 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Thursday, June 26th.

Institutional Trading of First Trust NASDAQ-100 Ex-Technology Sector Index Fund

Hedge funds have recently made changes to their positions in the company. TriaGen Wealth Management LLC acquired a new position in shares of First Trust NASDAQ-100 Ex-Technology Sector Index Fund in the second quarter worth approximately $2,212,000. Truist Financial Corp purchased a new position in First Trust NASDAQ-100 Ex-Technology Sector Index Fund in the second quarter worth $8,276,000. Realta Investment Advisors purchased a new position in shares of First Trust NASDAQ-100 Ex-Technology Sector Index Fund during the 2nd quarter valued at $631,000. MinichMacGregor Wealth Management LLC purchased a new stake in First Trust NASDAQ-100 Ex-Technology Sector Index Fund during the 2nd quarter worth about $676,000. Finally, Davis Investment Partners LLC increased its stake in First Trust NASDAQ-100 Ex-Technology Sector Index Fund by 3.3% in the 2nd quarter. Davis Investment Partners LLC now owns 11,358 shares of the company's stock worth $1,132,000 after acquiring an additional 361 shares during the last quarter.

First Trust NASDAQ-100 Ex-Technology Sector Index Fund Company Profile

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.