First Trust NASDAQ 100 Technology Index Fund (NASDAQ:QTEC) Sees Strong Trading Volume – Time to Buy?

Shares of First Trust NASDAQ 100 Technology Index Fund (NASDAQ:QTEC) saw unusually-strong trading volume on Wednesday . Approximately 676,755 shares traded hands during trading, an increase of 183% from the previous session’s volume of 239,026 shares.The stock last traded at $151.72 and had previously closed at $149.56.

First Trust NASDAQ 100 Technology Index Fund Stock Performance

The company’s 50-day moving average price is $187.11 and its 200 day moving average price is $191.74. The stock has a market cap of $3.36 billion, a PE ratio of 31.09 and a beta of 1.17.

First Trust NASDAQ 100 Technology Index Fund Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 27th were issued a dividend of $0.0083 per share. The ex-dividend date of this dividend was Thursday, March 27th. This represents a $0.03 dividend on an annualized basis and a yield of 0.02%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Synergy Investment Management LLC purchased a new stake in shares of First Trust NASDAQ 100 Technology Index Fund in the 4th quarter worth $31,000. REAP Financial Group LLC grew its holdings in First Trust NASDAQ 100 Technology Index Fund by 68.6% during the fourth quarter. REAP Financial Group LLC now owns 172 shares of the company’s stock valued at $32,000 after purchasing an additional 70 shares during the period. Tucker Asset Management LLC increased its position 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. Mascagni Wealth Management Inc. bought a new position in shares of First Trust NASDAQ 100 Technology Index Fund in the fourth quarter worth about $47,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of First Trust NASDAQ 100 Technology Index Fund during the 3rd quarter valued at about $91,000.

First Trust NASDAQ 100 Technology 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.