First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC) Hits New 1-Year High - Time to Buy?

Key Points

• The First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC) reached a new 12-month high of $221.89 on Wednesday, with a trading volume of 3,412 shares.
• Recent activity among institutional investors includes Hughes Financial Services LLC boosting its holdings by 78.5% in the second quarter, reflecting growing interest in the fund.
• The fund, which tracks an equal-weighted index of major Nasdaq-listed US technology stocks, has a market cap of $2.80 billion and a PE ratio of 35.79.

First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC - Get Free Report) reached a new 52-week high during trading on Wednesday . The company traded as high as $221.89 and last traded at $221.89, with a volume of 3412 shares trading hands. The stock had previously closed at $220.56.

First Trust NASDAQ-100 Technology Sector Index Fund Trading Up 0.1%

The firm has a market capitalization of $2.87 billion, a PE ratio of 35.79 and a beta of 1.17. The business has a 50-day moving average of $215.26 and a 200 day moving average of $197.31.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Hughes Financial Services LLC grew its holdings in First Trust NASDAQ-100 Technology Sector Index Fund by 78.5% during the 2nd quarter. Hughes Financial Services LLC now owns 116 shares of the company's stock valued at $25,000 after buying an additional 51 shares in the last quarter. REAP Financial Group LLC increased its stake in First Trust NASDAQ-100 Technology Sector Index Fund by 68.6% in the 4th quarter. REAP Financial Group LLC now owns 172 shares of the company's stock worth $32,000 after purchasing an additional 70 shares during the period. Creative Capital Management Investments LLC purchased a new position in shares of First Trust NASDAQ-100 Technology Sector Index Fund during the second quarter valued at approximately $32,000. Trust Co. of Vermont purchased a new stake in First Trust NASDAQ-100 Technology Sector Index Fund in the second quarter worth $33,000. Finally, First Command Advisory Services Inc. bought a new stake in First Trust NASDAQ-100 Technology Sector Index Fund in the second quarter worth $36,000.

About First Trust NASDAQ-100 Technology Sector 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.