Short Interest in First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC) Grows By 55.7%

Key Points

• Short interest surged 55.7% to 892,543 shares as of April 15, representing 7.6% of the float and a short-interest ratio of 3.8 days.
• QTEC is trading near its 12‑month high (opened at $263.18; 12‑month high $263.41) with a market cap of $3.09 billion and a P/E of about 35.8.
• Goldman Sachs increased its stake by 27.9% to 93,721 shares and Jane Street boosted its position by 176.6% to 28,691 shares during the latest reporting periods.

First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC - ) was the target of a large increase in short interest during the month of April. As of April 15th, there was short interest totaling 892,543 shares, an increase of 55.7% from the March 31st total of 573,218 shares. Based on an average daily volume of 236,781 shares, the short-interest ratio is presently 3.8 days. Currently, 7.6% of the company's stock are short sold.

First Trust NASDAQ-100 Technology Sector Index Fund Stock Performance

Shares of QTEC opened at $263.18 on Monday. The business's fifty day simple moving average is $227.77 and its two-hundred day simple moving average is $231.58. The company has a market cap of $3.09 billion, a price-to-earnings ratio of 35.79 and a beta of 1.30. First Trust NASDAQ-100 Technology Sector Index Fund has a 12 month low of $172.17 and a 12 month high of $263.41.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. boosted its position in First Trust NASDAQ-100 Technology Sector Index Fund by 27.9% in the first quarter. Goldman Sachs Group Inc. now owns 93,721 shares of the company's stock worth $16,266,000 after purchasing an additional 20,426 shares during the last quarter. Jane Street Group LLC increased its position in shares of First Trust NASDAQ-100 Technology Sector Index Fund by 176.6% during the 1st quarter. Jane Street Group LLC now owns 28,691 shares of the company's stock valued at $4,980,000 after purchasing an additional 66,133 shares during the last quarter. Cerity Partners LLC lifted its stake in shares of First Trust NASDAQ-100 Technology Sector Index Fund by 24.5% in the 2nd quarter. Cerity Partners LLC now owns 2,427 shares of the company's stock worth $517,000 after purchasing an additional 477 shares during the period. Darwin Wealth Management LLC purchased a new position in shares of First Trust NASDAQ-100 Technology Sector Index Fund in the second quarter worth approximately $137,000. Finally, Modern Wealth Management LLC boosted its holdings in shares of First Trust NASDAQ-100 Technology Sector Index Fund by 3.0% in the second quarter. Modern Wealth Management LLC now owns 2,411 shares of the company's stock worth $513,000 after buying an additional 71 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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