First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC) Stock Jumps 2.1% - Should You Buy?

Key Points

• QTEC rose 2.1% to $310.74 in Tuesday trading, reaching an intraday high of $311.59, while volume was 18% below its average.
• The ETF has a $4.55 billion market capitalization, a 35.79 price-to-earnings ratio, and a beta of 1.43; its 200-day moving average is $281.56 versus a 50-day average of $316.98.
• Several institutional investors increased or initiated positions in the fund during the third quarter. QTEC tracks an equal-weighted index of large Nasdaq-listed U.S. technology companies.

First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC - )'s stock price was up 2.1% during trading on Tuesday. The stock traded as high as $311.59 and last traded at $310.74. 215,632 shares traded hands during trading, a decline of 18% from the average session volume of 263,258 shares. The stock had previously closed at $304.31.

First Trust NASDAQ-100 Technology Sector Index Fund Price Performance

The business's fifty day moving average price is $316.98 and its two-hundred day moving average price is $281.56. The stock has a market capitalization of $4.55 billion, a PE ratio of 35.79 and a beta of 1.43.

Institutional Trading of First Trust NASDAQ-100 Technology Sector Index Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Latitude Advisors LLC purchased a new position in shares of First Trust NASDAQ-100 Technology Sector Index Fund during the 3rd quarter valued at about $112,000. Park Avenue Securities LLC purchased a new position in shares of First Trust NASDAQ-100 Technology Sector Index Fund during the 3rd quarter valued at approximately $1,752,000. Apollon Wealth Management LLC grew its position in shares of First Trust NASDAQ-100 Technology Sector Index Fund by 11.6% in the third quarter. Apollon Wealth Management LLC now owns 5,733 shares of the company's stock valued at $1,890,000 after purchasing an additional 594 shares during the period. Winthrop Advisory Group LLC boosted its holdings in First Trust NASDAQ-100 Technology Sector Index Fund by 49.0% in the 3rd quarter. Winthrop Advisory Group LLC now owns 1,028 shares of the company's stock worth $339,000 after buying an additional 338 shares during the last quarter. Finally, Kraft Davis & Associates LLC boosted its stake in shares of First Trust NASDAQ-100 Technology Sector Index Fund by 2.2% in the third quarter. Kraft Davis & Associates LLC now owns 4,777 shares of the company's stock worth $1,466,000 after acquiring an additional 104 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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