First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC) Sets New 12-Month High – Time to Buy?

First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $335.85 and last traded at $335.36, with a volume of 8962 shares changing hands. The stock had previously closed at $334.44.

First Trust NASDAQ-100 Technology Sector Index Fund Stock Performance

The stock’s 50-day simple moving average is $284.83 and its 200-day simple moving average is $249.21. The firm has a market capitalization of $3.76 billion, a PE ratio of 35.79 and a beta of 1.43.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in QTEC. Goldman Sachs Group Inc. grew its holdings in shares of First Trust NASDAQ-100 Technology Sector Index Fund by 27.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 93,721 shares of the company’s stock worth $16,266,000 after acquiring an additional 20,426 shares during the period. Jane Street Group LLC grew its holdings in shares of First Trust NASDAQ-100 Technology Sector Index Fund by 176.6% during the 1st quarter. Jane Street Group LLC now owns 28,691 shares of the company’s stock worth $4,980,000 after acquiring an additional 66,133 shares during the period. Cerity Partners LLC grew its holdings in shares of First Trust NASDAQ-100 Technology Sector Index Fund by 24.5% during 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 purchased a new position in shares of First Trust NASDAQ-100 Technology Sector Index Fund during the 2nd quarter worth approximately $137,000. Finally, Modern Wealth Management LLC grew its holdings in shares of First Trust NASDAQ-100 Technology Sector Index Fund by 3.0% during the 2nd quarter. Modern Wealth Management LLC now owns 2,411 shares of the company’s stock worth $513,000 after acquiring 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.