Short Interest in First Trust NASDAQ 100 Technology Index Fund (NASDAQ:QTEC) Drops By 21.6%

First Trust NASDAQ 100 Technology Index Fund (NASDAQ:QTEC) was the recipient of a large drop in short interest in February. As of February 15th, there was short interest totalling 281,500 shares, a drop of 21.6% from the January 31st total of 359,000 shares. Based on an average trading volume of 140,500 shares, the days-to-cover ratio is presently 2.0 days.

First Trust NASDAQ 100 Technology Index Fund Trading Down 2.1 %

QTEC opened at $186.39 on Tuesday. The stock has a market capitalization of $3.73 billion, a PE ratio of 32.35 and a beta of 1.17. First Trust NASDAQ 100 Technology Index Fund has a 1-year low of $164.27 and a 1-year high of $211.25. The firm has a 50-day moving average price of $197.05 and a two-hundred day moving average price of $193.81.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Valley Wealth Managers Inc. acquired a new stake in shares of First Trust NASDAQ 100 Technology Index Fund during the 3rd quarter worth approximately $30,000. Synergy Investment Management LLC acquired a new stake in shares of First Trust NASDAQ 100 Technology Index Fund during the 4th quarter worth approximately $31,000. REAP Financial Group LLC grew its position in shares of First Trust NASDAQ 100 Technology Index Fund by 68.6% during the 4th quarter. REAP Financial Group LLC now owns 172 shares of the company’s stock worth $32,000 after buying an additional 70 shares during the period. Tucker Asset Management LLC grew its position in shares of First Trust NASDAQ 100 Technology Index Fund by 37.0% during the 4th quarter. Tucker Asset Management LLC now owns 226 shares of the company’s stock worth $43,000 after buying an additional 61 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of First Trust NASDAQ 100 Technology Index Fund during the 3rd quarter worth approximately $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.