First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC) Reaches New 1-Year High – Still a Buy?

First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $298.81 and last traded at $298.81, with a volume of 39632 shares trading hands. The stock had previously closed at $296.36.

First Trust NASDAQ-100 Technology Sector Index Fund Price Performance

The stock has a market capitalization of $3.53 billion, a price-to-earnings ratio of 35.79 and a beta of 1.39. The firm’s fifty day moving average is $249.42 and its 200-day moving average is $237.79.

Institutional Trading of First Trust NASDAQ-100 Technology Sector Index Fund

Institutional investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. increased its stake in First Trust NASDAQ-100 Technology Sector Index Fund by 4,503.9% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,212,773 shares of the company’s stock valued at $509,402,000 after purchasing an additional 2,164,710 shares during the last quarter. EP Wealth Advisors LLC bought a new stake in First Trust NASDAQ-100 Technology Sector Index Fund during the fourth quarter valued at $18,140,000. Jane Street Group LLC increased its stake in First Trust NASDAQ-100 Technology Sector Index Fund by 176.6% during the first quarter. Jane Street Group LLC now owns 28,691 shares of the company’s stock valued at $4,980,000 after purchasing an additional 66,133 shares during the last quarter. Two Sigma Investments LP bought a new stake in First Trust NASDAQ-100 Technology Sector Index Fund during the third quarter valued at $14,492,000. Finally, Marshall Wace LLP increased its stake in First Trust NASDAQ-100 Technology Sector Index Fund by 60.5% during the fourth quarter. Marshall Wace LLP now owns 158,656 shares of the company’s stock valued at $36,524,000 after purchasing an additional 59,795 shares during the last quarter.

About First Trust NASDAQ-100 Technology Sector 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.