First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC) Reaches New 52-Week High - Here's Why

Key Points

• First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ: QTEC) hit a new 52-week high of $263.50 on Thursday, last trading at $263.34 on a volume of 27,650 shares.
• The ETF has a market capitalization of $3.10 billion, a P/E of 35.79 and a beta of 1.30, and is trading well above its 50- and 200-day moving averages (~$229.78 and $232.20), reflecting recent strength.
• Institutional investors added to or established positions in QTEC during Q3, including increases by Assetmark Inc., Gateway Wealth Partners and Mutual Advisors, and new stakes from Ashton Thomas Private Wealth and NWF Advisory Services.

First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC - ) shares reached a new 52-week high during trading on Thursday . The stock traded as high as $263.50 and last traded at $263.34, with a volume of 27650 shares traded. The stock had previously closed at $262.34.

First Trust NASDAQ-100 Technology Sector Index Fund Price Performance

The company has a market capitalization of $3.10 billion, a price-to-earnings ratio of 35.79 and a beta of 1.30. The business's 50 day simple moving average is $229.78 and its 200 day simple moving average is $232.20.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Assetmark Inc. grew its holdings in First Trust NASDAQ-100 Technology Sector Index Fund by 4.5% during the third quarter. Assetmark Inc. now owns 38,133 shares of the company's stock worth $8,756,000 after acquiring an additional 1,634 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in shares of First Trust NASDAQ-100 Technology Sector Index Fund during the 3rd quarter worth approximately $230,000. Gateway Wealth Partners LLC increased its stake in shares of First Trust NASDAQ-100 Technology Sector Index Fund by 4.5% during the 3rd quarter. Gateway Wealth Partners LLC now owns 9,929 shares of the company's stock worth $2,280,000 after purchasing an additional 426 shares in the last quarter. Mutual Advisors LLC boosted its stake in shares of First Trust NASDAQ-100 Technology Sector Index Fund by 5.2% during the third quarter. Mutual Advisors LLC now owns 1,335 shares of the company's stock valued at $316,000 after acquiring an additional 66 shares during the last quarter. Finally, NWF Advisory Services Inc. acquired a new stake in shares of First Trust NASDAQ-100 Technology Sector Index Fund during the third quarter valued at $204,000.

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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