First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC) Reaches New 52-Week High – Here’s Why

First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC) shares reached a new 52-week high during trading on Thursday . The stock traded as high as $263.50 and last traded at $263.34, with a volume of 27650 shares traded. The stock had previously closed at $262.34.

First Trust NASDAQ-100 Technology Sector Index Fund Price Performance

The company has a market capitalization of $3.10 billion, a price-to-earnings ratio of 35.79 and a beta of 1.30. The business’s 50 day simple moving average is $229.78 and its 200 day simple moving average is $232.20.

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. Assetmark Inc. grew its holdings in First Trust NASDAQ-100 Technology Sector Index Fund by 4.5% during the third quarter. Assetmark Inc. now owns 38,133 shares of the company’s stock worth $8,756,000 after acquiring an additional 1,634 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in shares of First Trust NASDAQ-100 Technology Sector Index Fund during the 3rd quarter worth approximately $230,000. Gateway Wealth Partners LLC increased its stake in shares of First Trust NASDAQ-100 Technology Sector Index Fund by 4.5% during the 3rd quarter. Gateway Wealth Partners LLC now owns 9,929 shares of the company’s stock worth $2,280,000 after purchasing an additional 426 shares in the last quarter. Mutual Advisors LLC boosted its stake in shares of First Trust NASDAQ-100 Technology Sector Index Fund by 5.2% during the third quarter. Mutual Advisors LLC now owns 1,335 shares of the company’s stock valued at $316,000 after acquiring an additional 66 shares during the last quarter. Finally, NWF Advisory Services Inc. acquired a new stake in shares of First Trust NASDAQ-100 Technology Sector Index Fund during the third quarter valued at $204,000.

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.