First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC) Stock Short Interest Rises 86.1%

First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC) saw a significant growth in short interest in the month of October. As of October 15th, there was short interest totaling 345,224 shares, a growth of 86.1% from the September 30th total of 185,540 shares. Currently, 2.4% of the shares of the company are sold short. Based on an average daily volume of 531,535 shares, the short-interest ratio is currently 0.6 days.

First Trust NASDAQ-100 Technology Sector Index Fund Stock Performance

Shares of QTEC traded down $7.53 during trading hours on Monday, hitting $285.34. The stock had a trading volume of 393,794 shares, compared to its average volume of 263,311. The firm has a 50-day moving average price of $316.43 and a 200 day moving average price of $282.56. The firm has a market capitalization of $4.22 billion, a price-to-earnings ratio of 35.79 and a beta of 1.43. First Trust NASDAQ-100 Technology Sector Index Fund has a fifty-two week low of $205.57 and a fifty-two week high of $342.51.

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

Several institutional investors and hedge funds have recently modified their holdings of QTEC. NewEdge Advisors LLC boosted its position in 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 purchasing an additional 35,491 shares in the last quarter. Nilsine Partners LLC grew its stake in First Trust NASDAQ-100 Technology Sector Index Fund by 1,845.7% in the 2nd quarter. Nilsine Partners LLC now owns 60,647 shares of the company’s stock valued at $20,298,000 after acquiring an additional 57,530 shares during the period. Baird Financial Group Inc. raised its position in First Trust NASDAQ-100 Technology Sector Index Fund by 21.0% during the second quarter. Baird Financial Group Inc. now owns 57,766 shares of the company’s stock worth $19,334,000 after acquiring an additional 10,037 shares during the period. Commonwealth Equity Services LLC purchased a new position in First Trust NASDAQ-100 Technology Sector Index Fund during the third quarter valued at $18,539,000. Finally, Kestra Advisory Services LLC lifted its holdings in First Trust NASDAQ-100 Technology Sector Index Fund by 3.9% during the first quarter. Kestra Advisory Services LLC now owns 67,629 shares of the company’s stock valued at $14,606,000 after purchasing an additional 2,566 shares in 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.