First Trust NASDAQ 100 Technology Index Fund (NASDAQ:QTEC) Sees Strong Trading Volume – Still a Buy?

First Trust NASDAQ 100 Technology Index Fund (NASDAQ:QTEC) saw strong trading volume on Wednesday . 676,755 shares traded hands during mid-day trading, an increase of 183% from the previous session’s volume of 239,026 shares.The stock last traded at $151.72 and had previously closed at $149.56.

First Trust NASDAQ 100 Technology Index Fund Stock Up 1.5 %

The business has a 50-day moving average price of $184.59 and a 200-day moving average price of $191.12. The firm has a market capitalization of $3.23 billion, a price-to-earnings ratio of 31.09 and a beta of 1.17.

First Trust NASDAQ 100 Technology Index Fund Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 27th were issued a $0.0083 dividend. This represents a $0.03 annualized dividend and a yield of 0.02%. The ex-dividend date of this dividend was Thursday, March 27th.

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

Several hedge funds and other institutional investors have recently modified their holdings of QTEC. Synergy Investment Management LLC purchased a new stake in First Trust NASDAQ 100 Technology Index Fund during the 4th quarter worth approximately $31,000. REAP Financial Group LLC grew its holdings in shares of First Trust NASDAQ 100 Technology Index Fund by 68.6% during the fourth quarter. REAP Financial Group LLC now owns 172 shares of the company’s stock valued at $32,000 after buying an additional 70 shares during the last quarter. Tucker Asset Management LLC grew its holdings in shares of First Trust NASDAQ 100 Technology Index Fund by 37.0% during the fourth quarter. Tucker Asset Management LLC now owns 226 shares of the company’s stock valued at $43,000 after buying an additional 61 shares during the last quarter. Mascagni Wealth Management Inc. acquired a new position in shares of First Trust NASDAQ 100 Technology Index Fund in the 4th quarter valued at $47,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in First Trust NASDAQ 100 Technology Index Fund in the 3rd quarter worth $91,000.

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.