First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC) Hits New 52-Week High - Still a Buy?

Key Points

• The First Trust NASDAQ-100 Technology Sector Index Fund (QTEC) reached a new 52-week high of $230.72, with recent trading reflecting a 1.0% increase, closing at $230.09.
• Investors have shown interest in QTEC, with multiple large firms like Corient Private Wealth LLC and TradeWell Securities LLC recently modifying their stakes in the fund.
• The fund, which is managed by First Trust, tracks an equal-weighted index of major Nasdaq-listed US technology stocks and has a market cap of $2.91 billion.

First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC - ) shares reached a new 52-week high on Monday . The company traded as high as $230.72 and last traded at $230.09, with a volume of 1754 shares trading hands. The stock had previously closed at $228.23.

First Trust NASDAQ-100 Technology Sector Index Fund Trading Up 1.0%

The business's 50 day moving average is $216.51 and its two-hundred day moving average is $199.25. The company has a market cap of $2.91 billion, a PE ratio of 35.79 and a beta of 1.17.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Corient Private Wealth LLC purchased a new position in shares of First Trust NASDAQ-100 Technology Sector Index Fund during the 2nd quarter valued at $239,000. TradeWell Securities LLC. lifted its stake in shares of First Trust NASDAQ-100 Technology Sector Index Fund by 5.0% during the 2nd quarter. TradeWell Securities LLC. now owns 8,764 shares of the company's stock valued at $1,865,000 after buying an additional 415 shares in the last quarter. Osaic Holdings Inc. lifted its stake in shares of First Trust NASDAQ-100 Technology Sector Index Fund by 4.0% during the 2nd quarter. Osaic Holdings Inc. now owns 188,598 shares of the company's stock valued at $40,106,000 after buying an additional 7,220 shares in the last quarter. Total Investment Management Inc. purchased a new position in shares of First Trust NASDAQ-100 Technology Sector Index Fund during the 2nd quarter valued at $201,000. Finally, Centaurus Financial Inc. purchased a new stake in First Trust NASDAQ-100 Technology Sector Index Fund in the 2nd quarter worth $104,000.

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.

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