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

First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC) saw a large drop in short interest in June. As of June 15th, there was short interest totaling 285,066 shares, a drop of 62.6% from the May 31st total of 762,066 shares. Currently, 2.5% of the company’s stock are short sold. Based on an average daily volume of 241,702 shares, the short-interest ratio is presently 1.2 days.

First Trust NASDAQ-100 Technology Sector Index Fund Stock Performance

Shares of QTEC traded up $8.22 during midday trading on Tuesday, hitting $334.69. The company had a trading volume of 188,990 shares, compared to its average volume of 262,632. First Trust NASDAQ-100 Technology Sector Index Fund has a 1 year low of $205.57 and a 1 year high of $340.23. The company’s 50-day simple moving average is $299.83 and its 200-day simple moving average is $254.33. The firm has a market capitalization of $3.88 billion, a P/E ratio of 35.79 and a beta of 1.43.

First Trust NASDAQ-100 Technology Sector Index Fund Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Thursday, June 25th will be given a dividend of $0.0326 per share. This represents a $0.13 annualized dividend and a dividend yield of 0.0%. The ex-dividend date of this dividend is Thursday, June 25th.

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

Several institutional investors have recently added to or reduced their stakes in QTEC. Hilton Head Capital Partners LLC purchased a new position in First Trust NASDAQ-100 Technology Sector Index Fund in the fourth quarter valued at approximately $27,000. Logan Capital Management Inc. purchased a new stake in shares of First Trust NASDAQ-100 Technology Sector Index Fund during the 3rd quarter worth approximately $27,000. O Shaughnessy Asset Management LLC acquired a new position in shares of First Trust NASDAQ-100 Technology Sector Index Fund in the 4th quarter valued at $34,000. Evelyn Partners Investment Management LLP acquired a new position in shares of First Trust NASDAQ-100 Technology Sector Index Fund in the 4th quarter valued at $40,000. Finally, Godfrey Financial Associates Inc. purchased a new position in shares of First Trust NASDAQ-100 Technology Sector Index Fund in the 4th quarter valued at $46,000.

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.