First Trust NASDAQ 100 Technology Index Fund (NASDAQ:QTEC) Sees Significant Increase in Short Interest

First Trust NASDAQ 100 Technology Index Fund (NASDAQ:QTECGet Free Report) saw a significant growth in short interest in February. As of February 28th, there was short interest totalling 435,700 shares, a growth of 54.8% from the February 13th total of 281,500 shares. Approximately 2.2% of the shares of the stock are short sold. Based on an average daily volume of 165,600 shares, the short-interest ratio is currently 2.6 days.

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

Several large investors have recently bought and sold shares of the business. Copia Wealth Management bought a new stake in First Trust NASDAQ 100 Technology Index Fund in the fourth quarter valued at approximately $120,000. REAP Financial Group LLC grew its position in First Trust NASDAQ 100 Technology Index Fund by 68.6% in the fourth quarter. REAP Financial Group LLC now owns 172 shares of the company’s stock valued at $32,000 after purchasing an additional 70 shares in the last quarter. ABLE Financial Group LLC grew its position in First Trust NASDAQ 100 Technology Index Fund by 34.0% in the fourth quarter. ABLE Financial Group LLC now owns 1,708 shares of the company’s stock valued at $322,000 after purchasing an additional 433 shares in the last quarter. United Advisor Group LLC grew its position in First Trust NASDAQ 100 Technology Index Fund by 2.9% in the fourth quarter. United Advisor Group LLC now owns 2,220 shares of the company’s stock valued at $418,000 after purchasing an additional 63 shares in the last quarter. Finally, Three Cord True Wealth Management LLC bought a new position in First Trust NASDAQ 100 Technology Index Fund in the fourth quarter valued at $295,000.

First Trust NASDAQ 100 Technology Index Fund Price Performance

Shares of QTEC stock traded up $5.52 during trading hours on Friday, reaching $180.37. 196,791 shares of the company were exchanged, compared to its average volume of 181,263. First Trust NASDAQ 100 Technology Index Fund has a fifty-two week low of $164.27 and a fifty-two week high of $211.25. The stock’s fifty day moving average is $194.86 and its two-hundred day moving average is $193.12. The company has a market cap of $3.61 billion, a price-to-earnings ratio of 30.18 and a beta of 1.17.

First Trust NASDAQ 100 Technology Index Fund Company Profile

(Get Free Report)

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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