First Trust NASDAQ-100 Ex-Technology Sector Index Fund (NASDAQ:QQXT) Stock Jumps 1.3% - Still a Buy?

Key Points

• QQXT shares rose 1.3% to $99.26 during Thursday trading, with volume reaching 15,428 shares—83% above the average session volume.
• The fund increased its quarterly dividend to $0.1919, equivalent to approximately $0.77 annually and a 0.8% yield.
• Institutional interest strengthened, with Citadel Advisors more than doubling its position and other investment firms adding or initiating stakes in the ETF, which tracks an equal-weighted NASDAQ-100 index excluding technology companies.

First Trust NASDAQ-100 Ex-Technology Sector Index Fund (NASDAQ:QQXT - )'s share price shot up 1.3% during trading on Thursday. The stock traded as high as $99.29 and last traded at $99.26. Approximately 15,428 shares traded hands during mid-day trading, an increase of 83% from the average session volume of 8,416 shares. The stock had previously closed at $97.99.

First Trust NASDAQ-100 Ex-Technology Sector Index Fund Trading Up 1.3%

The company's 50-day moving average price is $99.98 and its two-hundred day moving average price is $99.06. The company has a market cap of $143.93 million, a P/E ratio of 23.20 and a beta of 0.83.

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

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

Institutional Investors Weigh In On First Trust NASDAQ-100 Ex-Technology Sector Index Fund

A number of institutional investors and hedge funds have recently modified their holdings of QQXT. Integrated Wealth Concepts LLC acquired a new stake in First Trust NASDAQ-100 Ex-Technology Sector Index Fund in the 2nd quarter worth $28,000. Citadel Advisors LLC raised its position in shares of First Trust NASDAQ-100 Ex-Technology Sector Index Fund by 109.3% during the second quarter. Citadel Advisors LLC now owns 19,550 shares of the company's stock valued at $1,908,000 after buying an additional 10,209 shares during the last quarter. Cetera Investment Advisers raised its position in shares of First Trust NASDAQ-100 Ex-Technology Sector Index Fund by 7.5% during the first quarter. Cetera Investment Advisers now owns 3,623 shares of the company's stock valued at $354,000 after buying an additional 254 shares during the last quarter. Earned Wealth Advisors LLC lifted its stake in shares of First Trust NASDAQ-100 Ex-Technology Sector Index Fund by 1.3% in the first quarter. Earned Wealth Advisors LLC now owns 182,083 shares of the company's stock valued at $17,776,000 after buying an additional 2,345 shares during the period. Finally, Independent Financial Group LLC bought a new stake in shares of First Trust NASDAQ-100 Ex-Technology Sector Index Fund in the first quarter valued at about $254,000.

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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