First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC) Reaches New 12-Month High - Should You Buy?

Key Points

• QTEC hit a new 52-week high, trading as high as $248.89 (last $248.46) and was up about 2.1%, with the 50‑ and 200‑day moving averages at $224.61 and $230.71 respectively.
• Large institutional buying has accelerated—Northwestern Mutual increased its stake to 2,212,773 shares (~$509.4M), and firms including Jane Street, Two Sigma and Marshall Wace also added or initiated positions.
• The fund is an equal‑weighted NASDAQ‑100 technology ETF managed by First Trust, with a market cap around $3.0B, a P/E of 35.79 and a beta of 1.30.

First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC - )'s share price reached a new 52-week high during trading on Friday . The stock traded as high as $248.89 and last traded at $248.46, with a volume of 6931 shares. The stock had previously closed at $243.95.

First Trust NASDAQ-100 Technology Sector Index Fund Stock Up 2.1%

The firm's 50-day moving average price is $224.61 and its 200 day moving average price is $230.71. The firm has a market cap of $3.00 billion, a P/E ratio of 35.79 and a beta of 1.30.

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

Several institutional investors have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. lifted its holdings in First Trust NASDAQ-100 Technology Sector Index Fund by 4,503.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,212,773 shares of the company's stock valued at $509,402,000 after acquiring an additional 2,164,710 shares during the last quarter. EP Wealth Advisors LLC acquired a new stake in First Trust NASDAQ-100 Technology Sector Index Fund in the 4th quarter valued at about $18,140,000. Jane Street Group LLC lifted its holdings in First Trust NASDAQ-100 Technology Sector Index Fund by 176.6% in the 1st quarter. Jane Street Group LLC now owns 28,691 shares of the company's stock valued at $4,980,000 after acquiring an additional 66,133 shares during the last quarter. Two Sigma Investments LP acquired a new stake in First Trust NASDAQ-100 Technology Sector Index Fund in the 3rd quarter valued at about $14,492,000. Finally, Marshall Wace LLP lifted its holdings in First Trust NASDAQ-100 Technology Sector Index Fund by 60.5% in the 4th quarter. Marshall Wace LLP now owns 158,656 shares of the company's stock valued at $36,524,000 after acquiring an additional 59,795 shares during the last quarter.

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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