First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC) Sets New 1-Year High - What's Next?

Key Points

• The First Trust NASDAQ-100 Technology Sector Index Fund (QTEC) reached a new 1-year high, trading at $237.94 with a last recorded price of $237.17.
• Significant institutional investments were noted, with Jane Street Group LLC increasing its position by 176.6% and other firms like Tower Research Capital LLC acquiring over 23,953% in stake during the second quarter.
• The fund is designed to track an equal-weighted index of major U.S. technology stocks and was launched on April 19, 2006.

Shares of First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC - ) reached a new 52-week high on Monday . The stock traded as high as $237.94 and last traded at $237.17, with a volume of 1704 shares trading hands. The stock had previously closed at $233.27.

First Trust NASDAQ-100 Technology Sector Index Fund Price Performance

The stock's fifty day simple moving average is $217.96 and its two-hundred day simple moving average is $200.97. The company has a market capitalization of $2.96 billion, a price-to-earnings ratio of 35.79 and a beta of 1.17.

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

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.