First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC) Share Price Breaks Below Two Hundred Day Moving Average – Here’s Why

First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC)’s stock price passed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $284.69 and traded as low as $274.77. First Trust NASDAQ-100 Technology Sector Index Fund shares last traded at $280.87, with a volume of 2,957,817 shares trading hands.

First Trust NASDAQ-100 Technology Sector Index Fund Stock Performance

The stock’s 50 day moving average price is $310.01 and its 200 day moving average price is $284.69. The company has a market capitalization of $4.28 billion, a P/E ratio of 27.98 and a beta of 1.46.

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

Hedge funds and other institutional investors have recently bought and sold shares of the company. Continuum Advisory LLC bought a new stake in First Trust NASDAQ-100 Technology Sector Index Fund during the second quarter valued at $27,000. SBI Securities Co. Ltd. grew its holdings in First Trust NASDAQ-100 Technology Sector Index Fund by 61.5% during the 3rd quarter. SBI Securities Co. Ltd. now owns 105 shares of the company’s stock worth $35,000 after acquiring an additional 40 shares during the period. Atwood & Palmer Inc. acquired a new stake in First Trust NASDAQ-100 Technology Sector Index Fund during the 3rd quarter worth about $38,000. Whittier Trust Co. bought a new position in shares of First Trust NASDAQ-100 Technology Sector Index Fund in the 3rd quarter worth about $47,000. Finally, Compass Financial Management LLC bought a new position in shares of First Trust NASDAQ-100 Technology Sector Index Fund in the 2nd quarter worth about $68,000.

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.