First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC) Trading Up 1% - Here's Why

Key Points

• The **First Trust NASDAQ-100 Technology Sector Index Fund (QTEC)** saw a 1% increase in trading, reaching a high of $216.43 before closing at $215.99.
• Trading volume was **84,146 shares**, significantly lower than the average of **228,595 shares**, indicating reduced market activity.
• Several institutional investors have increased their stakes in QTEC, with **Tower Research Capital LLC** raising its position by **23,953.0%** in the second quarter.

First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC - Get Free Report) shares shot up 1% during mid-day trading on Thursday . The stock traded as high as $216.43 and last traded at $215.99. 84,146 shares were traded during trading, a decline of 63% from the average session volume of 228,595 shares. The stock had previously closed at $213.85.

First Trust NASDAQ-100 Technology Sector Index Fund Price Performance

The firm's fifty day moving average price is $213.86 and its 200-day moving average price is $195.39. The company has a market capitalization of $2.68 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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hughes Financial Services LLC raised its position in First Trust NASDAQ-100 Technology Sector Index Fund by 78.5% during the 2nd quarter. Hughes Financial Services LLC now owns 116 shares of the company's stock valued at $25,000 after purchasing an additional 51 shares during the last quarter. Creative Capital Management Investments LLC purchased a new position in First Trust NASDAQ-100 Technology Sector Index Fund during the second quarter valued at $32,000. Trust Co. of Vermont bought a new stake in First Trust NASDAQ-100 Technology Sector Index Fund during the second quarter valued at about $33,000. First Command Advisory Services Inc. bought a new stake in shares of First Trust NASDAQ-100 Technology Sector Index Fund in the second quarter worth about $36,000. Finally, REAP Financial Group LLC grew its position in First Trust NASDAQ-100 Technology Sector Index Fund by 68.6% in the fourth quarter. REAP Financial Group LLC now owns 172 shares of the company's stock worth $32,000 after acquiring an additional 70 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.