First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC) Reaches New 1-Year High - Still a Buy?

Key Points

• QTEC hit a new 52-week high — the First Trust NASDAQ-100 Technology Sector Index Fund traded as high as $278.68 (last $277.98) on Wednesday with about 106,643 shares changing hands, up from a prior close of $272.23.
• The ETF is an equal-weighted NASDAQ-100 technology sector fund managed by First Trust with a market cap of $3.22B, a PE of 35.79 and a beta of 1.39, and its price sits well above the 50-day ($231.60) and 200-day ($232.78) moving averages.
• Modest institutional buying was reported recently, with several firms (e.g., Hilton Head Capital, Logan Capital, O'Shaughnessy, Evelyn Partners, Godfrey Financial) initiating small stakes of roughly $27K–$46K each.

First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC - ) reached a new 52-week high on Wednesday . The stock traded as high as $278.68 and last traded at $277.98, with a volume of 106643 shares changing hands. The stock had previously closed at $272.23.

First Trust NASDAQ-100 Technology Sector Index Fund Stock Performance

The company has a fifty day moving average of $231.60 and a two-hundred day moving average of $232.78. The company has a market cap of $3.22 billion, a PE ratio of 35.79 and a beta of 1.39.

Institutional Trading of First Trust NASDAQ-100 Technology Sector Index Fund

Several hedge funds and other institutional investors have recently bought and sold shares of QTEC. Hilton Head Capital Partners LLC purchased a new stake in First Trust NASDAQ-100 Technology Sector Index Fund during the 4th quarter valued at $27,000. Logan Capital Management Inc. purchased a new stake in First Trust NASDAQ-100 Technology Sector Index Fund during the 3rd quarter valued at $27,000. O Shaughnessy Asset Management LLC purchased a new stake in First Trust NASDAQ-100 Technology Sector Index Fund in the 4th quarter worth about $34,000. Evelyn Partners Investment Management LLP purchased a new stake in First Trust NASDAQ-100 Technology Sector Index Fund in the 4th quarter worth about $40,000. Finally, Godfrey Financial Associates Inc. purchased a new stake in First Trust NASDAQ-100 Technology Sector Index Fund in the 4th quarter worth about $46,000.

First Trust NASDAQ-100 Technology Sector Index Fund Company Profile

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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