First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC) Trading Up 1.9% - Should You Buy?

Key Points

• The First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC) shares rose by 1.9% during trading, with the stock closing at $236.92 after reaching a high of $237.55.
• The fund has a market capitalization of $2.99 billion and a price-to-earnings ratio of 35.79.
• Several institutional investors significantly increased their stakes in QTEC during the third quarter, with HM Payson & Co. enhancing its holdings by 482.1%.

Shares of First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC - ) were up 1.9% during trading on Monday . The company traded as high as $237.55 and last traded at $236.92. Approximately 164,694 shares changed hands during mid-day trading, a decline of 19% from the average daily volume of 204,414 shares. The stock had previously closed at $232.57.

First Trust NASDAQ-100 Technology Sector Index Fund Stock Up 1.9%

The firm has a market capitalization of $2.99 billion, a price-to-earnings ratio of 35.79 and a beta of 1.17. The stock's fifty day moving average is $222.23 and its two-hundred day moving average is $205.36.

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

A number of institutional investors have recently added to or reduced their stakes in the company. HM Payson & Co. increased its holdings in First Trust NASDAQ-100 Technology Sector Index Fund by 482.1% during the third quarter. HM Payson & Co. now owns 815 shares of the company's stock worth $187,000 after buying an additional 675 shares during the last quarter. Darwin Wealth Management LLC increased its holdings in First Trust NASDAQ-100 Technology Sector Index Fund by 9.0% during the third quarter. Darwin Wealth Management LLC now owns 700 shares of the company's stock worth $161,000 after buying an additional 58 shares during the last quarter. World Investment Advisors increased its holdings in First Trust NASDAQ-100 Technology Sector Index Fund by 0.6% during the third quarter. World Investment Advisors now owns 13,711 shares of the company's stock worth $3,148,000 after buying an additional 75 shares during the last quarter. Private Trust Co. NA increased its holdings in First Trust NASDAQ-100 Technology Sector Index Fund by 1,921.0% during the third quarter. Private Trust Co. NA now owns 2,122 shares of the company's stock worth $487,000 after buying an additional 2,017 shares during the last quarter. Finally, TradeWell Securities LLC. increased its holdings in First Trust NASDAQ-100 Technology Sector Index Fund by 6.8% during the third quarter. TradeWell Securities LLC. now owns 9,359 shares of the company's stock worth $2,166,000 after buying an additional 595 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.

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