First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC) Stock Price Up 4.2% - Here's What Happened

Key Points

• QTEC shares jumped 4.2% to $326.11 during Monday trading, reaching an intraday high of $327.15. Trading volume was approximately 207,132 shares, about 12% below the average.
• The ETF recently paid a quarterly dividend of $0.0326 per share, equivalent to an annualized payout of about $0.13.
• Several institutional investors increased their QTEC holdings, including HSBC Holdings, Virtu Financial, Bank Hapoalim, and LPL Financial. QTEC tracks an equal-weighted index of large U.S. technology companies listed on Nasdaq.

Shares of First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC - ) shot up 4.2% during trading on Monday . The stock traded as high as $327.15 and last traded at $326.11. Approximately 207,132 shares changed hands during trading, a decline of 12% from the average daily volume of 236,438 shares. The stock had previously closed at $312.97.

First Trust NASDAQ-100 Technology Sector Index Fund Stock Performance

The business has a 50 day moving average price of $310.21 and a two-hundred day moving average price of $287.67. The company has a market cap of $4.84 billion, a P/E ratio of 35.79 and a beta of 1.43.

First Trust NASDAQ-100 Technology Sector Index Fund Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Thursday, June 25th were given a dividend of $0.0326 per share. The ex-dividend date of this dividend was Thursday, June 25th. This represents a $0.13 annualized dividend and a yield of 0.0%.

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

Several large investors have recently made changes to their positions in QTEC. Hsbc Holdings PLC grew its holdings in shares of First Trust NASDAQ-100 Technology Sector Index Fund by 262.5% during the fourth quarter. Hsbc Holdings PLC now owns 19,854 shares of the company's stock valued at $4,596,000 after buying an additional 14,377 shares during the last quarter. Virtu Financial LLC raised its holdings in First Trust NASDAQ-100 Technology Sector Index Fund by 30.3% in the 4th quarter. Virtu Financial LLC now owns 26,012 shares of the company's stock worth $5,988,000 after acquiring an additional 6,046 shares during the last quarter. Bank Hapoalim BM lifted its position in First Trust NASDAQ-100 Technology Sector Index Fund by 82.9% in the 4th quarter. Bank Hapoalim BM now owns 5,236 shares of the company's stock valued at $1,303,000 after acquiring an additional 2,374 shares in the last quarter. Evelyn Partners Investment Management LLP bought a new position in First Trust NASDAQ-100 Technology Sector Index Fund in the 4th quarter valued at approximately $40,000. Finally, LPL Financial LLC lifted its position in First Trust NASDAQ-100 Technology Sector Index Fund by 4.4% in the 4th quarter. LPL Financial LLC now owns 632,066 shares of the company's stock valued at $145,508,000 after acquiring an additional 26,878 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.

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