First Trust NASDAQ 100 Technology Index Fund (NASDAQ:QTEC) Trading Down 4.2%

First Trust NASDAQ 100 Technology Index Fund (NASDAQ:QTEC) dropped 4.2% on Tuesday . The stock traded as low as $182.22 and last traded at $183.27. Approximately 360,072 shares changed hands during mid-day trading, an increase of 229% from the average daily volume of 109,458 shares. The stock had previously closed at $191.31.

First Trust NASDAQ 100 Technology Index Fund Stock Down 4.2 %

The business has a 50 day simple moving average of $190.89 and a 200-day simple moving average of $189.45. The company has a market capitalization of $3.82 billion, a P/E ratio of 35.60 and a beta of 1.17.

First Trust NASDAQ 100 Technology Index Fund Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Thursday, June 27th were paid a $0.0342 dividend. The ex-dividend date was Thursday, June 27th. This represents a $0.14 annualized dividend and a dividend yield of 0.07%. This is a positive change from First Trust NASDAQ 100 Technology Index Fund’s previous quarterly dividend of $0.03.

Institutional Trading of First Trust NASDAQ 100 Technology Index Fund

Several hedge funds have recently added to or reduced their stakes in QTEC. Cetera Investment Advisers raised its stake in shares of First Trust NASDAQ 100 Technology Index Fund by 0.5% during the second quarter. Cetera Investment Advisers now owns 55,970 shares of the company’s stock valued at $11,052,000 after purchasing an additional 271 shares in the last quarter. SPC Financial Inc. raised its position in shares of First Trust NASDAQ 100 Technology Index Fund by 4.5% during the 2nd quarter. SPC Financial Inc. now owns 26,150 shares of the company’s stock worth $5,164,000 after buying an additional 1,126 shares in the last quarter. Gateway Wealth Partners LLC boosted its holdings in shares of First Trust NASDAQ 100 Technology Index Fund by 14.6% in the second quarter. Gateway Wealth Partners LLC now owns 4,093 shares of the company’s stock valued at $808,000 after acquiring an additional 521 shares in the last quarter. Regal Investment Advisors LLC raised its holdings in First Trust NASDAQ 100 Technology Index Fund by 8.5% during the second quarter. Regal Investment Advisors LLC now owns 9,749 shares of the company’s stock worth $1,925,000 after purchasing an additional 761 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its position in First Trust NASDAQ 100 Technology Index Fund by 7.7% in the second quarter. NewEdge Advisors LLC now owns 108,878 shares of the company’s stock worth $21,499,000 after purchasing an additional 7,773 shares during the period.

First Trust NASDAQ 100 Technology Index Fund Company Profile

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.