First Trust NASDAQ 100 Technology Index Fund (NASDAQ:QTEC) Short Interest Down 26.7% in September

First Trust NASDAQ 100 Technology Index Fund (NASDAQ:QTEC) saw a large decline in short interest in the month of September. As of September 15th, there was short interest totalling 434,500 shares, a decline of 26.7% from the August 31st total of 592,800 shares. Based on an average daily volume of 119,000 shares, the days-to-cover ratio is presently 3.7 days.

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

Large investors have recently modified their holdings of the company. Napa Wealth Management purchased a new stake in First Trust NASDAQ 100 Technology Index Fund in the 4th quarter worth approximately $858,000. Midland Wealth Advisors LLC purchased a new stake in shares of First Trust NASDAQ 100 Technology Index Fund in the fourth quarter worth $1,301,000. Regal Investment Advisors LLC boosted its stake in First Trust NASDAQ 100 Technology Index Fund by 2.3% during the fourth quarter. Regal Investment Advisors LLC now owns 8,498 shares of the company’s stock valued at $1,491,000 after buying an additional 195 shares during the period. Oppenheimer & Co. Inc. grew its position in First Trust NASDAQ 100 Technology Index Fund by 34.6% during the fourth quarter. Oppenheimer & Co. Inc. now owns 22,570 shares of the company’s stock worth $3,960,000 after buying an additional 5,806 shares in the last quarter. Finally, Orion Portfolio Solutions LLC bought a new position in First Trust NASDAQ 100 Technology Index Fund in the 4th quarter worth about $521,000.

First Trust NASDAQ 100 Technology Index Fund Stock Performance

NASDAQ QTEC traded down $0.91 during trading hours on Friday, hitting $192.04. The company had a trading volume of 195,690 shares, compared to its average volume of 111,459. The firm has a 50 day simple moving average of $185.25 and a 200 day simple moving average of $188.82. First Trust NASDAQ 100 Technology Index Fund has a 52 week low of $136.99 and a 52 week high of $206.52. The firm has a market capitalization of $4.00 billion, a price-to-earnings ratio of 35.60 and a beta of 1.17.

About First Trust NASDAQ 100 Technology 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.