First Trust NASDAQ 100 Technology Index Fund (NASDAQ:QTEC) Sets New 12-Month High – Here’s Why

Shares of First Trust NASDAQ 100 Technology Index Fund (NASDAQ:QTEC) reached a new 52-week high on Wednesday . The stock traded as high as $210.92 and last traded at $210.67, with a volume of 91656 shares traded. The stock had previously closed at $207.80.

First Trust NASDAQ 100 Technology Index Fund Stock Down 1.2 %

The company’s 50-day moving average is $197.22 and its two-hundred day moving average is $192.84. The company has a market capitalization of $4.16 billion, a P/E ratio of 35.60 and a beta of 1.17.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. HighTower Advisors LLC increased its position in shares of First Trust NASDAQ 100 Technology Index Fund by 0.4% in the third quarter. HighTower Advisors LLC now owns 13,996 shares of the company’s stock worth $2,676,000 after purchasing an additional 60 shares during the last quarter. Tucker Asset Management LLC boosted its stake in First Trust NASDAQ 100 Technology Index Fund by 37.0% in the fourth quarter. Tucker Asset Management LLC now owns 226 shares of the company’s stock worth $43,000 after buying an additional 61 shares in the last quarter. Kovack Advisors Inc. boosted its stake in First Trust NASDAQ 100 Technology Index Fund by 2.9% in the fourth quarter. Kovack Advisors Inc. now owns 2,661 shares of the company’s stock worth $501,000 after buying an additional 74 shares in the last quarter. L & S Advisors Inc boosted its stake in First Trust NASDAQ 100 Technology Index Fund by 4.7% in the third quarter. L & S Advisors Inc now owns 1,872 shares of the company’s stock worth $358,000 after buying an additional 84 shares in the last quarter. Finally, Sigma Planning Corp boosted its stake in First Trust NASDAQ 100 Technology Index Fund by 2.9% in the third quarter. Sigma Planning Corp now owns 3,097 shares of the company’s stock worth $592,000 after buying an additional 87 shares in the last quarter.

About First Trust NASDAQ 100 Technology 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.