First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC) Stock Short Interest Jumps 86.1%

First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC) was the target of a large growth in short interest in October. As of October 15th, there was short interest totaling 345,224 shares, a growth of 86.1% from the September 30th total of 185,540 shares. Currently, 2.4% of the shares of the stock are short sold. Based on an average trading volume of 531,535 shares, the short-interest ratio is currently 0.6 days.

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

Hedge funds and other institutional investors have recently modified their holdings of the business. SBI Securities Co. Ltd. raised its position in shares of First Trust NASDAQ-100 Technology Sector Index Fund by 61.5% in the 3rd quarter. SBI Securities Co. Ltd. now owns 105 shares of the company’s stock valued at $35,000 after purchasing an additional 40 shares during the last quarter. Modern Wealth Management LLC increased its stake in shares of First Trust NASDAQ-100 Technology Sector Index Fund by 1.7% during the first quarter. Modern Wealth Management LLC now owns 2,443 shares of the company’s stock worth $535,000 after purchasing an additional 42 shares in the last quarter. Balance Wealth Partners LLC raised its position in shares of First Trust NASDAQ-100 Technology Sector Index Fund by 2.9% in the third quarter. Balance Wealth Partners LLC now owns 1,701 shares of the company’s stock valued at $561,000 after buying an additional 48 shares during the last quarter. Total Clarity Wealth Management Inc. increased its holdings in shares of First Trust NASDAQ-100 Technology Sector Index Fund by 1.4% during the 3rd quarter. Total Clarity Wealth Management Inc. now owns 3,618 shares of the company’s stock worth $1,193,000 after buying an additional 50 shares during the last quarter. Finally, Chicago Partners Investment Group LLC increased its holdings in First Trust NASDAQ-100 Technology Sector Index Fund by 1.0% in the 1st quarter. Chicago Partners Investment Group LLC now owns 5,458 shares of the company’s stock valued at $1,179,000 after purchasing an additional 54 shares during the last quarter.

First Trust NASDAQ-100 Technology Sector Index Fund Stock Down 5.3%

Shares of QTEC stock opened at $292.87 on Friday. The firm has a market cap of $4.32 billion, a P/E ratio of 35.79 and a beta of 1.43. First Trust NASDAQ-100 Technology Sector Index Fund has a 12-month low of $205.57 and a 12-month high of $342.51. The company has a 50 day moving average of $316.43 and a 200-day moving average of $282.56.

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.