First Trust NASDAQ 100 Technology Index Fund (NASDAQ:QTEC) Trading Up 1.9% – Here’s What Happened

First Trust NASDAQ 100 Technology Index Fund (NASDAQ:QTEC)’s share price shot up 1.9% during mid-day trading on Monday . The company traded as high as $197.26 and last traded at $196.63. 128,191 shares changed hands during mid-day trading, a decline of 23% from the average session volume of 165,699 shares. The stock had previously closed at $193.02.

First Trust NASDAQ 100 Technology Index Fund Price Performance

The stock has a market cap of $3.98 billion, a price-to-earnings ratio of 35.60 and a beta of 1.17. The firm’s 50-day moving average is $194.97 and its 200 day moving average is $191.58.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pacifica Partners Inc. purchased a new position in shares of First Trust NASDAQ 100 Technology Index Fund in the 3rd quarter valued at $25,000. Valley Wealth Managers Inc. acquired a new stake in First Trust NASDAQ 100 Technology Index Fund in the 3rd quarter valued at $30,000. ORG Wealth Partners LLC purchased a new position in First Trust NASDAQ 100 Technology Index Fund in the third quarter valued at about $39,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of First Trust NASDAQ 100 Technology Index Fund in the third quarter worth about $91,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of First Trust NASDAQ 100 Technology Index Fund in the third quarter valued at about $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.