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) passed 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 Stock Performance

The firm’s 50-day moving average price is $313.94 and its two-hundred day moving average price is $283.43. The stock has a market cap of $3.91 billion, a price-to-earnings ratio of 35.79 and a beta of 1.46.

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

Several institutional investors and hedge funds have recently bought and sold shares of the company. Nilsine Partners LLC lifted its stake in First Trust NASDAQ-100 Technology Sector Index Fund by 1,845.7% during the second quarter. Nilsine Partners LLC now owns 60,647 shares of the company’s stock worth $20,298,000 after purchasing an additional 57,530 shares in the last quarter. Commonwealth Equity Services LLC purchased a new position in shares of First Trust NASDAQ-100 Technology Sector Index Fund during the third quarter worth $18,539,000. NewEdge Advisors LLC boosted its position in shares of First Trust NASDAQ-100 Technology Sector Index Fund by 67.7% during the second quarter. NewEdge Advisors LLC now owns 87,942 shares of the company’s stock worth $29,433,000 after buying an additional 35,491 shares during the period. Concurrent Investment Advisors LLC grew its stake in shares of First Trust NASDAQ-100 Technology Sector Index Fund by 216.7% in the second quarter. Concurrent Investment Advisors LLC now owns 43,425 shares of the company’s stock valued at $14,534,000 after buying an additional 29,713 shares in the last quarter. Finally, Oppenheimer & Co. Inc. acquired a new stake in shares of First Trust NASDAQ-100 Technology Sector Index Fund in the third quarter valued at $7,342,000.

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.