First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC) Sees Significant Growth in Short Interest

First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC) saw a large growth in short interest in the month of August. As of August 14th, there was short interest totaling 341,560 shares, a growth of 64.9% from the July 30th total of 207,119 shares. Currently, 2.2% of the company’s shares are sold short. Based on an average daily trading volume, of 208,145 shares, the days-to-cover ratio is currently 1.6 days.

First Trust NASDAQ-100 Technology Sector Index Fund Stock Down 3.0%

Shares of QTEC stock traded down $9.37 during trading hours on Tuesday, hitting $307.14. 56,819 shares of the company were exchanged, compared to its average volume of 245,772. The firm has a market cap of $4.68 billion, a PE ratio of 35.79 and a beta of 1.43. First Trust NASDAQ-100 Technology Sector Index Fund has a 1 year low of $205.57 and a 1 year high of $340.23. The firm has a fifty day moving average of $313.13 and a 200 day moving average of $278.79.

First Trust NASDAQ-100 Technology Sector Index Fund Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Thursday, June 25th were paid a dividend of $0.0326 per share. The ex-dividend date of this dividend was Thursday, June 25th. This represents a $0.13 dividend on an annualized basis and a yield of 0.0%.

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

Institutional investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. lifted its stake in First Trust NASDAQ-100 Technology Sector Index Fund by 27.9% during the first quarter. Goldman Sachs Group Inc. now owns 93,721 shares of the company’s stock worth $16,266,000 after purchasing an additional 20,426 shares during the last quarter. Jane Street Group LLC lifted its holdings in shares of First Trust NASDAQ-100 Technology Sector Index Fund by 176.6% in the 1st quarter. Jane Street Group LLC now owns 28,691 shares of the company’s stock worth $4,980,000 after purchasing an additional 66,133 shares during the last quarter. Cerity Partners LLC increased its holdings in shares of First Trust NASDAQ-100 Technology Sector Index Fund by 24.5% in the 2nd quarter. Cerity Partners LLC now owns 2,427 shares of the company’s stock worth $517,000 after acquiring an additional 477 shares during the period. Darwin Wealth Management LLC bought a new position in First Trust NASDAQ-100 Technology Sector Index Fund in the 2nd quarter worth about $137,000. Finally, Modern Wealth Management LLC boosted its position in shares of First Trust NASDAQ-100 Technology Sector Index Fund by 3.0% during the second quarter. Modern Wealth Management LLC now owns 2,411 shares of the company’s stock worth $513,000 after buying an additional 71 shares during the period.

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.