Short Interest in First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC) Rises By 18.6%

First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC) was the recipient of a large increase in short interest during the month of February. As of February 27th, there was short interest totaling 548,962 shares, an increase of 18.6% from the February 12th total of 462,909 shares. Currently, 4.4% of the company’s shares are sold short. Based on an average daily volume of 182,382 shares, the days-to-cover ratio is presently 3.0 days. Based on an average daily volume of 182,382 shares, the days-to-cover ratio is presently 3.0 days. Currently, 4.4% of the company’s shares are sold short.

First Trust NASDAQ-100 Technology Sector Index Fund Stock Performance

NASDAQ:QTEC opened at $223.43 on Tuesday. The firm has a market capitalization of $2.79 billion, a PE ratio of 35.79 and a beta of 1.27. The stock’s fifty day moving average is $230.81 and its 200 day moving average is $230.23. First Trust NASDAQ-100 Technology Sector Index Fund has a fifty-two week low of $143.80 and a fifty-two week high of $247.98.

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

Hedge funds and other institutional investors have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of First Trust NASDAQ-100 Technology Sector Index Fund by 4,503.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,212,773 shares of the company’s stock worth $509,402,000 after acquiring an additional 2,164,710 shares during the last quarter. LPL Financial LLC grew its holdings in First Trust NASDAQ-100 Technology Sector Index Fund by 4.4% during the 4th quarter. LPL Financial LLC now owns 632,066 shares of the company’s stock valued at $145,508,000 after purchasing an additional 26,878 shares during the last quarter. Morgan Stanley raised its position in First Trust NASDAQ-100 Technology Sector Index Fund by 0.8% in the 4th quarter. Morgan Stanley now owns 621,138 shares of the company’s stock worth $142,992,000 after purchasing an additional 4,735 shares during the period. UBS Group AG raised its position in First Trust NASDAQ-100 Technology Sector Index Fund by 5.1% in the 4th quarter. UBS Group AG now owns 272,008 shares of the company’s stock worth $62,619,000 after purchasing an additional 13,285 shares during the period. Finally, Osaic Holdings Inc. lifted its stake in First Trust NASDAQ-100 Technology Sector Index Fund by 4.0% in the second quarter. Osaic Holdings Inc. now owns 188,598 shares of the company’s stock worth $40,106,000 after purchasing an additional 7,220 shares during 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.