First Trust NASDAQ-100 Ex-Technology Sector Index Fund (NASDAQ:QQXT) Shares Break Above 200-Day Moving Average - Should You Sell?

Key Points

• QQXT shares moved above their 200-day moving average, reaching $99.71 and last trading at $99.59, compared with a 200-day average of $99.49.
• The fund increased its quarterly dividend to $0.1919, equivalent to $0.77 annually and a 0.8% yield.
• Several institutional investors recently increased or initiated positions in QQXT, an equal-weighted ETF tracking Nasdaq-100 companies while excluding technology stocks.

First Trust NASDAQ-100 Ex-Technology Sector Index Fund (NASDAQ:QQXT - )'s stock price crossed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $99.49 and traded as high as $99.71. First Trust NASDAQ-100 Ex-Technology Sector Index Fund shares last traded at $99.59, with a volume of 36,088 shares trading hands.

First Trust NASDAQ-100 Ex-Technology Sector Index Fund Stock Performance

The firm has a market capitalization of $134.45 million, a P/E ratio of 23.20 and a beta of 0.83. The business has a 50 day simple moving average of $99.58 and a two-hundred day simple moving average of $99.49.

First Trust NASDAQ-100 Ex-Technology Sector Index Fund Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Thursday, September 24th were given a $0.1919 dividend. This represents a $0.77 annualized dividend and a dividend yield of 0.8%. This is a positive change from First Trust NASDAQ-100 Ex-Technology Sector Index Fund's previous quarterly dividend of $0.1870. The ex-dividend date was Thursday, September 24th.

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

A number of institutional investors have recently made changes to their positions in QQXT. Cetera Investment Advisers boosted its holdings in First Trust NASDAQ-100 Ex-Technology Sector Index Fund by 7.5% in the first quarter. Cetera Investment Advisers now owns 3,623 shares of the company's stock worth $354,000 after acquiring an additional 254 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of First Trust NASDAQ-100 Ex-Technology Sector Index Fund during the second quarter worth about $28,000. Earned Wealth Advisors LLC increased its holdings in shares of First Trust NASDAQ-100 Ex-Technology Sector Index Fund by 1.3% during the first quarter. Earned Wealth Advisors LLC now owns 182,083 shares of the company's stock valued at $17,776,000 after acquiring an additional 2,345 shares in the last quarter. Independent Financial Group LLC acquired a new position in shares of First Trust NASDAQ-100 Ex-Technology Sector Index Fund during the first quarter valued at about $254,000. Finally, Equitable Trust Co. acquired a new position in shares of First Trust NASDAQ-100 Ex-Technology Sector Index Fund during the first quarter valued at about $351,000.

About First Trust NASDAQ-100 Ex-Technology Sector Index Fund

The First Trust NASDAQ-100 Ex-Technology Sector Index Fund (QQXT) is an exchange-traded fund that is based on the NASDAQ-100 Ex-Tech Sector index. The fund tracks an equal-weighted index of NASDAQ 100 stocks that excludes technology companies. QQXT was launched on Feb 8, 2007 and is managed by First Trust.

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