First Trust NASDAQ-100 Ex-Technology Sector Index Fund (NASDAQ:QQXT) Stock Price 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 - ) shares traded down 0.6% during trading on Thursday . The company traded as low as $98.74 and last traded at $98.80. 31,678 shares changed hands 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's fifty day moving average is $98.75 and its 200-day moving average is $96.30. The stock has a market capitalization of $1.12 billion, a PE ratio of 23.20 and a beta of 0.98.

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

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

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in QQXT. EP Wealth Advisors LLC purchased a new position in shares of First Trust NASDAQ-100 Ex-Technology Sector Index Fund in the fourth quarter worth about $112,000. Burney Co. purchased a new position in shares of First Trust NASDAQ-100 Ex-Technology Sector Index Fund in the first quarter worth about $200,000. International Assets Investment Management LLC purchased a new position in shares of First Trust NASDAQ-100 Ex-Technology Sector Index Fund in the second quarter worth about $206,000. Kraft Davis & Associates LLC purchased a new position in shares of First Trust NASDAQ-100 Ex-Technology Sector Index Fund in the second quarter worth about $218,000. Finally, Claro Advisors LLC purchased a new position in shares of First Trust NASDAQ-100 Ex-Technology Sector Index Fund in the second quarter worth about $236,000.

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.

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