Short Interest in First Trust NASDAQ 100 Technology Index Fund (NASDAQ:QTEC) Rises By 47.5%

First Trust NASDAQ 100 Technology Index Fund (NASDAQ:QTEC) was the recipient of a significant growth in short interest in January. As of January 31st, there was short interest totalling 359,000 shares, a growth of 47.5% from the January 15th total of 243,400 shares. Based on an average daily volume of 137,700 shares, the short-interest ratio is currently 2.6 days.

First Trust NASDAQ 100 Technology Index Fund Stock Up 0.5 %

Shares of NASDAQ QTEC opened at $207.80 on Friday. First Trust NASDAQ 100 Technology Index Fund has a twelve month low of $164.27 and a twelve month high of $208.11. The stock has a market cap of $4.16 billion, a price-to-earnings ratio of 35.60 and a beta of 1.17. The company’s fifty day moving average is $196.45 and its 200-day moving average is $192.15.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Creative Planning raised its position in shares of First Trust NASDAQ 100 Technology Index Fund by 4.0% during the third quarter. Creative Planning now owns 6,809 shares of the company’s stock worth $1,303,000 after purchasing an additional 259 shares during the period. Gateway Wealth Partners LLC increased its stake in First Trust NASDAQ 100 Technology Index Fund by 23.4% during the 3rd quarter. Gateway Wealth Partners LLC now owns 5,051 shares of the company’s stock worth $966,000 after purchasing an additional 958 shares in the last quarter. Peterson Wealth Advisors LLC raised its holdings in First Trust NASDAQ 100 Technology Index Fund by 6.6% during the 3rd quarter. Peterson Wealth Advisors LLC now owns 4,372 shares of the company’s stock worth $836,000 after buying an additional 269 shares during the period. International Assets Investment Management LLC lifted its stake in First Trust NASDAQ 100 Technology Index Fund by 22,919.1% in the third quarter. International Assets Investment Management LLC now owns 2,726,386 shares of the company’s stock valued at $521,585,000 after buying an additional 2,714,542 shares in the last quarter. Finally, Syntegra Private Wealth Group LLC boosted its holdings in shares of First Trust NASDAQ 100 Technology Index Fund by 1.0% in the third quarter. Syntegra Private Wealth Group LLC now owns 128,443 shares of the company’s stock valued at $24,572,000 after buying an additional 1,295 shares during the period.

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.