Short Interest in First Trust NASDAQ-100 Ex-Technology Sector Index Fund (NASDAQ:QQXT) Expands By 24.8%

Key Points

• Short interest in QQXT jumped by 24.8% to 30,231 shares as of Feb. 27, representing about 1.5% of shares outstanding and a days-to-cover ratio of 2.6 based on average daily volume.
• QQXT shares traded at $98.76 (up 0.2%), with a market capitalization of about $197.5 million, a P/E of 23.2, and a 52-week range of $83.08–$104.06.
• Institutional activity increased—Royal Bank of Canada raised its stake by 11.2% to 31,286 shares, and firms including Envestnet, Rockefeller, WCG ($~6.215M), and Cetera opened or increased positions in the fund.

First Trust NASDAQ-100 Ex-Technology Sector Index Fund (NASDAQ:QQXT - ) saw a significant growth in short interest in February. As of February 27th, there was short interest totaling 30,231 shares, a growth of 24.8% from the February 12th total of 24,229 shares. Based on an average daily volume of 11,456 shares, the days-to-cover ratio is currently 2.6 days. Currently, 1.5% of the shares of the stock are sold short. Currently, 1.5% of the shares of the stock are sold short. Based on an average daily volume of 11,456 shares, the days-to-cover ratio is currently 2.6 days.

First Trust NASDAQ-100 Ex-Technology Sector Index Fund Stock Up 0.2%

Shares of QQXT stock traded up $0.16 during trading on Friday, hitting $98.76. The company had a trading volume of 1,347 shares, compared to its average volume of 15,856. The stock's 50-day moving average is $101.05 and its two-hundred day moving average is $99.53. The stock has a market capitalization of $197.52 million, a price-to-earnings ratio of 23.20 and a beta of 0.94. First Trust NASDAQ-100 Ex-Technology Sector Index Fund has a 52 week low of $83.08 and a 52 week high of $104.06.

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

Institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada raised its position in shares of First Trust NASDAQ-100 Ex-Technology Sector Index Fund by 11.2% during the 1st quarter. Royal Bank of Canada now owns 31,286 shares of the company's stock valued at $2,935,000 after buying an additional 3,147 shares in the last quarter. Envestnet Asset Management Inc. purchased a new position in First Trust NASDAQ-100 Ex-Technology Sector Index Fund in the second quarter worth $1,371,000. Cetera Investment Advisers increased its stake in First Trust NASDAQ-100 Ex-Technology Sector Index Fund by 31.7% in the second quarter. Cetera Investment Advisers now owns 3,337 shares of the company's stock valued at $330,000 after acquiring an additional 804 shares during the last quarter. Rockefeller Capital Management L.P. purchased a new stake in First Trust NASDAQ-100 Ex-Technology Sector Index Fund during the second quarter valued at about $1,641,000. Finally, WCG Wealth Advisors LLC purchased a new stake in First Trust NASDAQ-100 Ex-Technology Sector Index Fund during the second quarter valued at about $6,215,000.

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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