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

First Trust NASDAQ-100 Technology Sector Index Fund logo with Manufacturing background

Key Points

  • The First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC) reached a new 52-week high at $240.30 on Friday, with recent trading at $240.09.
  • The fund has a market capitalization of $3.02 billion and a price-to-earnings ratio of 35.79, indicating strong performance in the tech sector.
  • Significant increases in investments were seen from multiple hedge funds, with Jane Street Group LLC boosting its position by 176.6% in the first quarter.
  • Five stocks we like better than First Trust NASDAQ-100 Technology Sector Index Fund.

Shares of First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC - Get Free Report) reached a new 52-week high on Friday . The company traded as high as $240.30 and last traded at $240.09, with a volume of 13414 shares trading hands. The stock had previously closed at $236.79.

First Trust NASDAQ-100 Technology Sector Index Fund Price Performance

The company has a market capitalization of $3.02 billion, a price-to-earnings ratio of 35.79 and a beta of 1.17. The stock has a 50-day moving average price of $223.45 and a 200-day moving average price of $206.35.

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

A number of hedge funds have recently made changes to their positions in QTEC. Jane Street Group LLC lifted its position in shares of First Trust NASDAQ-100 Technology Sector Index Fund by 176.6% in the first quarter. Jane Street Group LLC now owns 28,691 shares of the company's stock valued at $4,980,000 after buying an additional 66,133 shares during the last quarter. Maridea Wealth Management LLC acquired a new position in First Trust NASDAQ-100 Technology Sector Index Fund in the 2nd quarter valued at $5,702,000. Brio Consultants LLC acquired a new position in First Trust NASDAQ-100 Technology Sector Index Fund in the 1st quarter valued at $4,381,000. Vestmark Advisory Solutions Inc. raised its holdings in First Trust NASDAQ-100 Technology Sector Index Fund by 79.6% in the 2nd quarter. Vestmark Advisory Solutions Inc. now owns 54,738 shares of the company's stock valued at $11,650,000 after acquiring an additional 24,264 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in First Trust NASDAQ-100 Technology Sector Index Fund by 23,953.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 24,053 shares of the company's stock valued at $5,119,000 after acquiring an additional 23,953 shares in the last quarter.

First Trust NASDAQ-100 Technology Sector Index Fund Company Profile

(Get Free Report)

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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