First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC) Reaches New 52-Week High - Should You Buy?

Key Points

• Shares of First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC) hit a new 52-week high at $257.32 (last $257.17), trading up about 2.3% with volume near 181,383 shares.
• The fund has a market capitalization of $3.02 billion, a P/E of 35.79 and a beta of 1.30, and is trading well above its 50‑day ($226.43) and 200‑day ($231.28) moving averages.
• Several institutional investors have recently initiated small positions, and QTEC is an ETF that tracks an equal-weighted Nasdaq-100 Technology Sector index of large U.S. tech stocks.

Shares of First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC - ) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $257.32 and last traded at $257.17, with a volume of 181383 shares. The stock had previously closed at $251.33.

First Trust NASDAQ-100 Technology Sector Index Fund Trading Up 2.3%

The stock has a market capitalization of $3.02 billion, a PE ratio of 35.79 and a beta of 1.30. The stock has a 50 day moving average price of $226.43 and a 200-day moving average price of $231.28.

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

Institutional investors and hedge funds have recently bought and sold shares of the stock. Logan Capital Management Inc. purchased a new position in First Trust NASDAQ-100 Technology Sector Index Fund during the third quarter valued at $27,000. Hilton Head Capital Partners LLC purchased a new position in First Trust NASDAQ-100 Technology Sector Index Fund during the fourth quarter valued at $27,000. O Shaughnessy Asset Management LLC purchased a new position in First Trust NASDAQ-100 Technology Sector Index Fund during the fourth quarter valued at $34,000. Evelyn Partners Investment Management LLP purchased a new position in First Trust NASDAQ-100 Technology Sector Index Fund during the fourth quarter valued at $40,000. Finally, Godfrey Financial Associates Inc. purchased a new position in First Trust NASDAQ-100 Technology Sector Index Fund during the fourth quarter valued at $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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