First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC) Shares Up 2.4% - Still a Buy?

First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC - Get Free Report) shares shot up 2.4% during trading on Tuesday . The stock traded as high as $209.90 and last traded at $209.57. 252,473 shares were traded during mid-day trading, a decline of 8% from the average session volume of 274,757 shares. The stock had previously closed at $204.70.

First Trust NASDAQ-100 Technology Sector Index Fund Stock Performance

The firm has a market capitalization of $2.90 billion, a P/E ratio of 34.44 and a beta of 1.17. The firm's 50-day moving average is $190.21 and its 200 day moving average is $189.34.

First Trust NASDAQ-100 Technology Sector Index Fund Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 27th were given a dividend of $0.0083 per share. The ex-dividend date of this dividend was Thursday, March 27th. This represents a $0.03 annualized dividend and a yield of 0.02%.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in QTEC. Sanctuary Advisors LLC lifted its position in First Trust NASDAQ-100 Technology Sector Index Fund by 26.0% during the 4th quarter. Sanctuary Advisors LLC now owns 3,528 shares of the company's stock worth $699,000 after buying an additional 728 shares in the last quarter. Sigma Planning Corp grew its position in shares of First Trust NASDAQ-100 Technology Sector Index Fund by 8.5% during the 4th quarter. Sigma Planning Corp now owns 3,361 shares of the company's stock worth $633,000 after purchasing an additional 264 shares in the last quarter. IFP Advisors Inc boosted its stake in shares of First Trust NASDAQ-100 Technology Sector Index Fund by 45.7% in the fourth quarter. IFP Advisors Inc now owns 7,737 shares of the company's stock valued at $1,457,000 after buying an additional 2,428 shares during the period. Holistic Financial Partners acquired a new stake in First Trust NASDAQ-100 Technology Sector Index Fund during the fourth quarter worth approximately $431,000. Finally, Bank of New York Mellon Corp grew its position in First Trust NASDAQ-100 Technology Sector Index Fund by 8.8% during the fourth quarter. Bank of New York Mellon Corp now owns 10,807 shares of the company's stock worth $2,035,000 after buying an additional 873 shares in 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.

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