First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC) Trading 1.3% Higher – Here’s Why

First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC)’s share price shot up 1.3% on Wednesday . The company traded as high as $230.30 and last traded at $228.15. 252,087 shares were traded during mid-day trading, an increase of 1% from the average session volume of 250,362 shares. The stock had previously closed at $225.17.

First Trust NASDAQ-100 Technology Sector Index Fund Price Performance

The stock has a market capitalization of $2.85 billion, a P/E ratio of 35.79 and a beta of 1.27. The stock has a fifty day moving average price of $234.03 and a 200 day moving average price of $228.68.

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

Institutional investors and hedge funds have recently modified their holdings of the business. Hughes Financial Services LLC increased its holdings in shares of First Trust NASDAQ-100 Technology Sector Index Fund by 78.5% in the second quarter. Hughes Financial Services LLC now owns 116 shares of the company’s stock worth $25,000 after buying an additional 51 shares during the period. Hilton Head Capital Partners LLC bought a new position in First Trust NASDAQ-100 Technology Sector Index Fund during the 4th quarter worth approximately $27,000. Logan Capital Management Inc. bought a new position in First Trust NASDAQ-100 Technology Sector Index Fund during the 3rd quarter worth approximately $27,000. O Shaughnessy Asset Management LLC purchased a new position in First Trust NASDAQ-100 Technology Sector Index Fund in the 4th quarter worth approximately $34,000. Finally, First Command Advisory Services Inc. bought a new stake in First Trust NASDAQ-100 Technology Sector Index Fund in the second quarter valued at approximately $36,000.

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.