First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC) Sees Large Drop in Short Interest

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

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

Several institutional investors have recently modified their holdings of the business. Synergy Investment Management LLC purchased a new stake in shares of First Trust NASDAQ-100 Technology Sector Index Fund during the 4th quarter worth $31,000. REAP Financial Group LLC lifted its position 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 purchasing an additional 70 shares during the last quarter. Tucker Asset Management LLC lifted its position 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 purchasing an additional 61 shares during the last quarter. Mascagni Wealth Management Inc. purchased a new stake in shares of First Trust NASDAQ-100 Technology Sector Index Fund during the 4th quarter worth $47,000. Finally, SouthState Corp purchased a new stake in shares of First Trust NASDAQ-100 Technology Sector Index Fund during the 1st quarter worth $76,000.

First Trust NASDAQ-100 Technology Sector Index Fund Stock Performance

Shares of NASDAQ:QTEC traded up $3.92 during trading on Monday, hitting $205.45. The company's stock had a trading volume of 168,001 shares, compared to its average volume of 281,045. The business has a 50 day moving average price of $185.59 and a two-hundred day moving average price of $189.10. The company has a market capitalization of $2.85 billion, a PE ratio of 31.26 and a beta of 1.17. First Trust NASDAQ-100 Technology Sector Index Fund has a fifty-two week low of $143.80 and a fifty-two week 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 was Thursday, March 27th. This represents a $0.03 annualized dividend and a dividend yield of 0.02%.

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.