First Trust NASDAQ-100 Ex-Technology Sector Index Fund (NASDAQ:QQXT) Trading Up 0.7% - Here's What Happened

Key Points

• The First Trust NASDAQ-100 Ex-Technology Sector Index Fund (NASDAQ:QQXT) saw its stock price increase by 0.7%, trading at $98.25 during mid-day on Thursday.
• The fund recently cut its dividend to $0.1606 per share, representing an annualized yield of 0.7%.
• Several institutional investors have significantly increased their stakes in QQXT, with First Trust Advisors LP acquiring a new position valued at approximately $732 million during the second quarter.

First Trust NASDAQ-100 Ex-Technology Sector Index Fund (NASDAQ:QQXT - Get Free Report)'s stock price rose 0.7% during trading on Thursday . The company traded as high as $98.25 and last traded at $98.25. Approximately 27,202 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 96,126 shares. The stock had previously closed at $97.56.

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

The firm has a market cap of $1.10 billion, a P/E ratio of 23.20 and a beta of 0.98. The business's 50-day simple moving average is $99.01 and its 200 day simple moving average is $96.35.

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

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

Institutional Investors 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. First Trust Advisors LP bought a new position in First Trust NASDAQ-100 Ex-Technology Sector Index Fund in the 2nd quarter worth $732,445,000. Raymond James Financial Inc. lifted its stake in First Trust NASDAQ-100 Ex-Technology Sector Index Fund by 796.3% in the 2nd quarter. Raymond James Financial Inc. now owns 252,824 shares of the company's stock worth $24,979,000 after purchasing an additional 224,618 shares in the last quarter. O Dell Group LLC purchased a new stake in First Trust NASDAQ-100 Ex-Technology Sector Index Fund in the 2nd quarter worth $21,425,000. NewEdge Advisors LLC lifted its stake in First Trust NASDAQ-100 Ex-Technology Sector Index Fund by 20,427.6% in the 2nd quarter. NewEdge Advisors LLC now owns 202,813 shares of the company's stock worth $20,038,000 after purchasing an additional 201,825 shares in the last quarter. Finally, Advisory Services Network LLC purchased a new stake in First Trust NASDAQ-100 Ex-Technology Sector Index Fund in the 2nd quarter worth $17,518,000.

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.