First Trust NASDAQ 100 Technology Index Fund (NASDAQ:QTEC) Trading 0.9% Higher – Here’s Why

First Trust NASDAQ 100 Technology Index Fund (NASDAQ:QTEC) traded up 0.9% during trading on Wednesday . The company traded as high as $195.75 and last traded at $195.43. 75,462 shares traded hands during mid-day trading, a decline of 34% from the average session volume of 114,096 shares. The stock had previously closed at $193.70.

First Trust NASDAQ 100 Technology Index Fund Price Performance

The firm has a market capitalization of $3.98 billion, a price-to-earnings ratio of 35.60 and a beta of 1.17. The stock has a 50 day moving average price of $195.31 and a two-hundred day moving average price of $192.29.

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

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Pacifica Partners Inc. purchased a new position in First Trust NASDAQ 100 Technology Index Fund in the third quarter worth approximately $25,000. Valley Wealth Managers Inc. acquired a new stake in First Trust NASDAQ 100 Technology Index Fund in the third quarter valued at $30,000. ORG Wealth Partners LLC purchased a new stake in First Trust NASDAQ 100 Technology Index Fund during the third quarter worth approximately $39,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of First Trust NASDAQ 100 Technology Index Fund during the 2nd quarter worth approximately $55,000. Finally, Northwest Investment Counselors LLC acquired a new position in First Trust NASDAQ 100 Technology Index Fund in the third quarter valued at $91,000.

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.