First Trust NASDAQ 100 Technology Index Fund (NASDAQ:QTEC) Sees Large Volume Increase – What’s Next?

First Trust NASDAQ 100 Technology Index Fund (NASDAQ:QTEC) saw unusually-high trading volume on Wednesday . Approximately 676,755 shares were traded during 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 Performance

The stock has a market capitalization of $3.36 billion, a P/E ratio of 31.09 and a beta of 1.17. The business has a 50-day moving average price of $187.11 and a 200 day moving average price of $191.74.

First Trust NASDAQ 100 Technology Index Fund Cuts Dividend

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