First Trust NASDAQ-100 Ex-Technology Sector Index Fund (NASDAQ:QQXT) Trading 1.1% Higher - Here's What Happened

Key Points

• Shares of the First Trust NASDAQ-100 Ex-Technology Sector Index Fund (NASDAQ:QQXT) rose by 1.1%, closing at $98.35, despite a significant decline in trading volume.
• The fund announced a quarterly dividend of $0.1463 per share, yielding 0.6%, with the payment date set for September 30th.
• Major hedge funds, including Bank of America and Royal Bank of Canada, have recently adjusted their stakes in the fund, indicating strong institutional interest.

Shares of First Trust NASDAQ-100 Ex-Technology Sector Index Fund (NASDAQ:QQXT - ) rose 1.1% during trading on Friday . The company traded as high as $98.37 and last traded at $98.35. Approximately 11,220 shares were traded during trading, a decline of 87% from the average daily volume of 88,818 shares. The stock had previously closed at $97.30.

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

The business's 50-day simple moving average is $98.71 and its 200-day simple moving average is $96.48. The company has a market cap of $1.11 billion, a price-to-earnings 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 disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Thursday, September 25th will be issued a $0.1463 dividend. This represents a $0.59 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Thursday, September 25th.

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 the stock. Bank of America Corp DE raised its holdings in shares of First Trust NASDAQ-100 Ex-Technology Sector Index Fund by 4.5% in the fourth quarter. Bank of America Corp DE now owns 10,632 shares of the company's stock valued at $990,000 after buying an additional 453 shares during the last quarter. Davis Investment Partners LLC bought a new position in shares of First Trust NASDAQ-100 Ex-Technology Sector Index Fund during the first quarter worth about $998,000. Cambridge Investment Research Advisors Inc. boosted its position in shares of First Trust NASDAQ-100 Ex-Technology Sector Index Fund by 4.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 5,766 shares of the company's stock valued at $541,000 after buying an additional 245 shares during the last quarter. Burney Co. bought a new stake in shares of First Trust NASDAQ-100 Ex-Technology Sector Index Fund during the 1st quarter valued at $200,000. Finally, Royal Bank of Canada increased its position in shares of First Trust NASDAQ-100 Ex-Technology Sector Index Fund by 11.2% during the 1st quarter. Royal Bank of Canada now owns 31,286 shares of the company's stock valued at $2,935,000 after purchasing an additional 3,147 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.

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