First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC) Short Interest Up 18.6% in February

Key Points

• Short interest up 18.6% in February to 548,962 shares as of Feb. 27, equal to 4.4% of shares sold short and a short-interest ratio of 3.0 days.
• QTEC traded up 2.2% to $224.13, with a market cap of $2.80 billion, a P/E of 35.79, and a 52‑week range of $143.80–$247.98.
• Northwestern Mutual dramatically increased its stake (up 4,503.9%) to 2,212,773 shares (~$509.4M), while LPL, Morgan Stanley, UBS and Osaic also modestly raised positions.

First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC - ) saw a significant growth in short interest in the month of February. As of February 27th, there was short interest totaling 548,962 shares, a growth of 18.6% from the February 12th total of 462,909 shares. Based on an average daily volume of 182,382 shares, the short-interest ratio is presently 3.0 days. Currently, 4.4% of the company's shares are sold short. Currently, 4.4% of the company's shares are sold short. Based on an average daily volume of 182,382 shares, the short-interest ratio is presently 3.0 days.

First Trust NASDAQ-100 Technology Sector Index Fund Stock Up 2.2%

NASDAQ:QTEC traded up $4.72 on Monday, hitting $224.13. The stock had a trading volume of 230,208 shares, compared to its average volume of 236,646. The company has a fifty day moving average price of $231.04 and a two-hundred day moving average price of $230.18. First Trust NASDAQ-100 Technology Sector Index Fund has a 1-year low of $143.80 and a 1-year high of $247.98. The stock has a market cap of $2.80 billion, a price-to-earnings ratio of 35.79 and a beta of 1.27.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. increased its stake in First Trust NASDAQ-100 Technology Sector Index Fund by 4,503.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,212,773 shares of the company's stock worth $509,402,000 after acquiring an additional 2,164,710 shares during the last quarter. LPL Financial LLC lifted its stake in shares of First Trust NASDAQ-100 Technology Sector Index Fund by 4.4% in the 4th quarter. LPL Financial LLC now owns 632,066 shares of the company's stock valued at $145,508,000 after purchasing an additional 26,878 shares during the last quarter. Morgan Stanley grew its holdings in shares of First Trust NASDAQ-100 Technology Sector Index Fund by 0.8% during the 4th quarter. Morgan Stanley now owns 621,138 shares of the company's stock worth $142,992,000 after purchasing an additional 4,735 shares during the period. UBS Group AG raised its holdings in First Trust NASDAQ-100 Technology Sector Index Fund by 5.1% in the 4th quarter. UBS Group AG now owns 272,008 shares of the company's stock valued at $62,619,000 after buying an additional 13,285 shares during the period. Finally, Osaic Holdings Inc. lifted its position in First Trust NASDAQ-100 Technology Sector Index Fund by 4.0% in the second quarter. Osaic Holdings Inc. now owns 188,598 shares of the company's stock valued at $40,106,000 after buying an additional 7,220 shares during the last quarter.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.