Short Interest in First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC) Declines By 15.8%

First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC - Get Free Report) was the target of a significant decline in short interest in May. As of May 15th, there was short interest totalling 662,000 shares, a decline of 15.8% from the April 30th total of 786,400 shares. Based on an average daily trading volume, of 380,800 shares, the days-to-cover ratio is presently 1.7 days. Currently, 4.8% of the company's stock are sold short.

First Trust NASDAQ-100 Technology Sector Index Fund Stock Up 0.7%

Shares of NASDAQ:QTEC traded up $1.36 on Wednesday, reaching $199.88. The company had a trading volume of 236,510 shares, compared to its average volume of 292,509. First Trust NASDAQ-100 Technology Sector Index Fund has a twelve month low of $143.80 and a twelve month high of $211.25. The stock has a 50-day moving average price of $178.36 and a 200 day moving average price of $188.65. The stock has a market capitalization of $2.77 billion, a P/E ratio of 31.26 and a beta of 1.17.

First Trust NASDAQ-100 Technology Sector Index Fund Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 27th were paid a dividend of $0.0083 per share. The ex-dividend date was Thursday, March 27th. This represents a $0.03 annualized dividend and a yield of 0.02%.

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

Large investors have recently modified their holdings of the stock. Synergy Investment Management LLC acquired a new position in First Trust NASDAQ-100 Technology Sector Index Fund during the 4th quarter worth $31,000. REAP Financial Group LLC raised its stake in First Trust NASDAQ-100 Technology Sector Index Fund by 68.6% during the 4th quarter. REAP Financial Group LLC now owns 172 shares of the company's stock worth $32,000 after buying an additional 70 shares during the period. Tucker Asset Management LLC raised its stake in shares of First Trust NASDAQ-100 Technology Sector Index Fund by 37.0% in the 4th quarter. Tucker Asset Management LLC now owns 226 shares of the company's stock valued at $43,000 after purchasing an additional 61 shares during the period. Mascagni Wealth Management Inc. acquired a new stake in shares of First Trust NASDAQ-100 Technology Sector Index Fund in the 4th quarter valued at about $47,000. Finally, SouthState Corp bought a new position in shares of First Trust NASDAQ-100 Technology Sector Index Fund in the 1st quarter valued at about $76,000.

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.