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

Key Points

• The First Trust NASDAQ-100 Technology Sector Index Fund (QTEC) reached a new 52-week high, trading at $221.43 with a volume of 3,624 shares.
• QTEC has a market capitalization of $2.76 billion and a price-to-earnings ratio of 35.79, indicating its valuation in the market.
• Recent institutional activity includes significant new positions and increases, with firms like Creative Capital Management and Synergy Investment Management both acquiring shares in QTEC.

First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC - Get Free Report)'s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $221.43 and last traded at $221.43, with a volume of 3624 shares. The stock had previously closed at $218.53.

First Trust NASDAQ-100 Technology Sector Index Fund Stock Performance

The firm's 50-day moving average price is $208.84 and its 200 day moving average price is $193.49. The company has a market cap of $2.64 billion, a price-to-earnings ratio of 35.79 and a beta of 1.17.

Institutional Investors Weigh In On First Trust NASDAQ-100 Technology Sector Index Fund

Several institutional investors have recently modified their holdings of QTEC. REAP Financial Group LLC grew its position in shares of First Trust NASDAQ-100 Technology Sector Index Fund by 68.6% during the 4th quarter. REAP Financial Group LLC now owns 172 shares of the company's stock worth $32,000 after buying an additional 70 shares during the period. Creative Capital Management Investments LLC acquired a new position in First Trust NASDAQ-100 Technology Sector Index Fund during the second quarter valued at approximately $32,000. Trust Co. of Vermont acquired a new position in First Trust NASDAQ-100 Technology Sector Index Fund during the second quarter valued at approximately $33,000. First Command Advisory Services Inc. acquired a new position in First Trust NASDAQ-100 Technology Sector Index Fund during the second quarter valued at approximately $36,000. Finally, Synergy Investment Management LLC grew its holdings in First Trust NASDAQ-100 Technology Sector Index Fund by 55.8% during the first quarter. Synergy Investment Management LLC now owns 254 shares of the company's stock valued at $44,000 after purchasing an additional 91 shares during the period.

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.