First Trust NASDAQ 100 Technology Index Fund (NASDAQ:QTEC) Reaches New 12-Month Low – Should You Sell?

First Trust NASDAQ 100 Technology Index Fund (NASDAQ:QTEC) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $163.92 and last traded at $165.17, with a volume of 182621 shares. The stock had previously closed at $176.49.

First Trust NASDAQ 100 Technology Index Fund Stock Down 6.8 %

The business’s 50 day simple moving average is $189.79 and its 200 day simple moving average is $192.43. The company has a market capitalization of $2.97 billion, a PE ratio of 31.09 and a beta of 1.17.

First Trust NASDAQ 100 Technology Index Fund Cuts Dividend

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

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in QTEC. Mascagni Wealth Management Inc. purchased a new stake in shares of First Trust NASDAQ 100 Technology Index Fund in the fourth quarter valued at $47,000. Wealth Enhancement Advisory Services LLC grew its holdings in shares of First Trust NASDAQ 100 Technology Index Fund by 25.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 10,687 shares of the company’s stock valued at $2,012,000 after buying an additional 2,189 shares in the last quarter. Copia Wealth Management acquired a new position in First Trust NASDAQ 100 Technology Index Fund during the fourth quarter valued at $120,000. REAP Financial Group LLC lifted its stake in First Trust NASDAQ 100 Technology Index Fund by 68.6% in the 4th quarter. REAP Financial Group LLC now owns 172 shares of the company’s stock worth $32,000 after acquiring an additional 70 shares in the last quarter. Finally, ABLE Financial Group LLC boosted its position in First Trust NASDAQ 100 Technology Index Fund by 34.0% during the 4th quarter. ABLE Financial Group LLC now owns 1,708 shares of the company’s stock worth $322,000 after acquiring an additional 433 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.