First Trust NASDAQ 100 Technology Index Fund (NASDAQ:QTEC) Sees Significant Decrease in Short Interest

First Trust NASDAQ 100 Technology Index Fund (NASDAQ:QTEC) saw a large decrease in short interest in the month of February. As of February 15th, there was short interest totalling 281,500 shares, a decrease of 21.6% from the January 31st total of 359,000 shares. Based on an average daily volume of 140,500 shares, the days-to-cover ratio is presently 2.0 days.

First Trust NASDAQ 100 Technology Index Fund Stock Down 3.4 %

Shares of QTEC stock traded down $6.35 during mid-day trading on Thursday, hitting $183.16. 61,050 shares of the company’s stock were exchanged, compared to its average volume of 160,787. The stock has a market cap of $3.66 billion, a price-to-earnings ratio of 32.35 and a beta of 1.17. First Trust NASDAQ 100 Technology Index Fund has a fifty-two week low of $164.27 and a fifty-two week high of $211.25. The stock has a 50-day simple moving average of $196.72 and a two-hundred day simple moving average of $193.76.

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

Several large investors have recently added to or reduced their stakes in the business. REAP Financial Group LLC grew its holdings in First Trust NASDAQ 100 Technology Index Fund by 68.6% in the 4th quarter. REAP Financial Group LLC now owns 172 shares of the company’s stock valued at $32,000 after buying an additional 70 shares during the period. ABLE Financial Group LLC boosted its position in shares of First Trust NASDAQ 100 Technology Index Fund by 34.0% in the fourth quarter. ABLE Financial Group LLC now owns 1,708 shares of the company’s stock worth $322,000 after acquiring an additional 433 shares during the last quarter. United Advisor Group LLC grew its holdings in First Trust NASDAQ 100 Technology Index Fund by 2.9% in the fourth quarter. United Advisor Group LLC now owns 2,220 shares of the company’s stock valued at $418,000 after purchasing an additional 63 shares during the period. Three Cord True Wealth Management LLC acquired a new position in First Trust NASDAQ 100 Technology Index Fund during the fourth quarter worth approximately $295,000. Finally, Richmond Investment Services LLC acquired a new position in First Trust NASDAQ 100 Technology Index Fund during the fourth quarter worth approximately $224,000.

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.