First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC) Stock Price Breaks Below Two Hundred Day Moving Average – Should You Sell?

First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC)’s stock price crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $283.43 and traded as low as $263.61. First Trust NASDAQ-100 Technology Sector Index Fund shares last traded at $264.19, with a volume of 854,817 shares.

First Trust NASDAQ-100 Technology Sector Index Fund Trading Down 7.8%

The firm has a market cap of $3.91 billion, a PE ratio of 35.79 and a beta of 1.46. The business has a fifty day moving average price of $313.94 and a 200 day moving average price of $283.43.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dorsey Wright & Associates acquired a new stake in First Trust NASDAQ-100 Technology Sector Index Fund during the first quarter worth approximately $710,000. Assetmark Inc. lifted its position in shares of First Trust NASDAQ-100 Technology Sector Index Fund by 19.2% during the 1st quarter. Assetmark Inc. now owns 48,274 shares of the company’s stock worth $10,426,000 after buying an additional 7,776 shares during the last quarter. Independent Financial Group LLC purchased a new stake in shares of First Trust NASDAQ-100 Technology Sector Index Fund during the 1st quarter worth approximately $1,920,000. Sanctuary Advisors LLC lifted its position in shares of First Trust NASDAQ-100 Technology Sector Index Fund by 12.1% during the 1st quarter. Sanctuary Advisors LLC now owns 3,340 shares of the company’s stock worth $721,000 after buying an additional 360 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its holdings in shares of First Trust NASDAQ-100 Technology Sector Index Fund by 98.8% in the 1st quarter. Hsbc Holdings PLC now owns 39,471 shares of the company’s stock valued at $8,488,000 after buying an additional 19,617 shares in the last quarter.

First Trust NASDAQ-100 Technology Sector 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.