First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC) Reaches New 12-Month High – What’s Next?

First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC) hit a new 52-week high during mid-day trading on Thursday . The company 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 stock’s 50-day moving average is $229.78 and its 200-day moving average is $232.20. The stock has a market cap of $3.10 billion, a price-to-earnings ratio of 35.79 and a beta of 1.30.

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

A number of hedge funds have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. boosted its stake in First Trust NASDAQ-100 Technology Sector Index Fund by 4,503.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,212,773 shares of the company’s stock worth $509,402,000 after buying an additional 2,164,710 shares during the last quarter. LPL Financial LLC boosted its holdings in shares of First Trust NASDAQ-100 Technology Sector Index Fund by 4.4% in the 4th quarter. LPL Financial LLC now owns 632,066 shares of the company’s stock valued at $145,508,000 after purchasing an additional 26,878 shares during the last quarter. Morgan Stanley boosted its holdings in shares of First Trust NASDAQ-100 Technology Sector Index Fund by 0.8% in the 4th quarter. Morgan Stanley now owns 621,138 shares of the company’s stock valued at $142,992,000 after purchasing an additional 4,735 shares during the last quarter. UBS Group AG boosted its holdings in shares of First Trust NASDAQ-100 Technology Sector Index Fund by 5.1% in the 4th quarter. UBS Group AG now owns 272,008 shares of the company’s stock valued at $62,619,000 after purchasing an additional 13,285 shares during the last quarter. Finally, Royal Bank of Canada boosted its holdings in shares of First Trust NASDAQ-100 Technology Sector Index Fund by 7.4% in the 4th quarter. Royal Bank of Canada now owns 184,306 shares of the company’s stock valued at $42,428,000 after purchasing an additional 12,751 shares during the last quarter.

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.