First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC) Short Interest Update

First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC - Get Free Report) saw a significant drop in short interest in May. As of May 31st, there was short interest totalling 234,400 shares, a drop of 64.6% from the May 15th total of 662,000 shares. Approximately 1.7% of the company's shares are short sold. Based on an average daily volume of 368,600 shares, the days-to-cover ratio is presently 0.6 days.

First Trust NASDAQ-100 Technology Sector Index Fund Price Performance

Shares of NASDAQ QTEC traded down $3.28 during midday trading on Friday, reaching $201.72. 73,941 shares of the stock were exchanged, compared to its average volume of 281,266. The business has a 50-day simple moving average of $183.43 and a two-hundred day simple moving average of $189.09. The company has a market capitalization of $2.79 billion, a price-to-earnings ratio of 31.26 and a beta of 1.17. First Trust NASDAQ-100 Technology Sector Index Fund has a 12 month low of $143.80 and a 12 month high of $211.25.

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 paid a $0.0083 dividend. 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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Synergy Investment Management LLC acquired a new stake in First Trust NASDAQ-100 Technology Sector Index Fund in the 4th quarter valued at $31,000. REAP Financial Group LLC boosted its holdings in shares of First Trust NASDAQ-100 Technology Sector Index Fund by 68.6% during the 4th quarter. REAP Financial Group LLC now owns 172 shares of the company's stock worth $32,000 after buying an additional 70 shares during the period. Tucker Asset Management LLC boosted its holdings in shares of First Trust NASDAQ-100 Technology Sector Index Fund by 37.0% during the 4th quarter. Tucker Asset Management LLC now owns 226 shares of the company's stock worth $43,000 after buying an additional 61 shares during the period. Mascagni Wealth Management Inc. bought a new stake in shares of First Trust NASDAQ-100 Technology Sector Index Fund during the 4th quarter worth about $47,000. Finally, SouthState Corp bought a new stake in shares of First Trust NASDAQ-100 Technology Sector Index Fund during the 1st quarter worth about $76,000.

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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