First Trust NASDAQ 100 Technology Index Fund (NASDAQ:QTEC) Shares Up 0.4% - Should You Buy?

First Trust NASDAQ 100 Technology Index Fund (NASDAQ:QTEC - Get Free Report) shares shot up 0.4% during trading on Wednesday . The company traded as high as $178.31 and last traded at $177.99. 92,090 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 322,622 shares. The stock had previously closed at $177.20.

First Trust NASDAQ 100 Technology Index Fund Stock Performance

The firm has a 50-day moving average price of $173.93 and a two-hundred day moving average price of $188.55. The firm has a market cap of $2.49 billion, a price-to-earnings ratio of 29.16 and a beta of 1.17.

First Trust NASDAQ 100 Technology Index Fund Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 27th were given a $0.0083 dividend. The ex-dividend date was Thursday, March 27th. This represents a $0.03 dividend on an annualized basis and a dividend yield of 0.02%.

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

A number of hedge funds have recently modified their holdings of the business. Principal Securities Inc. grew its holdings in First Trust NASDAQ 100 Technology Index Fund by 0.6% during the first quarter. Principal Securities Inc. now owns 9,521 shares of the company's stock worth $1,793,000 after acquiring an additional 60 shares during the period. Tucker Asset Management LLC increased its stake in First Trust NASDAQ 100 Technology Index Fund by 37.0% during the 4th quarter. Tucker Asset Management LLC now owns 226 shares of the company's stock worth $43,000 after buying an additional 61 shares during the period. United Advisor Group LLC boosted its holdings in First Trust NASDAQ 100 Technology Index Fund by 2.9% in the fourth quarter. United Advisor Group LLC now owns 2,220 shares of the company's stock worth $418,000 after purchasing an additional 63 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of First Trust NASDAQ 100 Technology Index Fund by 10.5% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 693 shares of the company's stock worth $120,000 after acquiring an additional 66 shares during the period. Finally, REAP Financial Group LLC boosted its stake in First Trust NASDAQ 100 Technology Index Fund by 68.6% during the 4th quarter. REAP Financial Group LLC now owns 172 shares of the company's stock valued at $32,000 after purchasing an additional 70 shares during the period.

About First Trust NASDAQ 100 Technology Index Fund

The First Trust NASDAQ-100-Technology Sector Index Fund (QTEC) is an exchange-traded fund that is based on the NASDAQ-100 Technology Sector index. The fund tracks an equal-weighted index of the largest Nasdaq-listed US technology stocks. QTEC was launched on Apr 19, 2006 and is managed by First Trust.