Short Interest in First Trust NASDAQ 100 Technology Index Fund (NASDAQ:QTEC) Declines By 21.6%

First Trust NASDAQ 100 Technology Index Fund (NASDAQ:QTEC) was the recipient of a significant decline in short interest in the month of February. As of February 15th, there was short interest totalling 281,500 shares, a decline 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 currently 2.0 days.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Valley Wealth Managers Inc. acquired a new position in First Trust NASDAQ 100 Technology Index Fund during the third quarter valued at approximately $30,000. Synergy Investment Management LLC acquired a new position in First Trust NASDAQ 100 Technology Index Fund during the fourth quarter valued at approximately $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 grew its holdings in First Trust NASDAQ 100 Technology Index Fund by 37.0% during the fourth quarter. Tucker Asset Management LLC now owns 226 shares of the company’s stock valued at $43,000 after purchasing an additional 61 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new position in First Trust NASDAQ 100 Technology Index Fund during the third quarter valued at approximately $91,000.

First Trust NASDAQ 100 Technology Index Fund Stock Performance

Shares of NASDAQ QTEC opened at $186.39 on Tuesday. The stock has a market cap of $3.73 billion, a P/E ratio of 32.35 and a beta of 1.17. The firm has a 50 day moving average price of $197.05 and a 200 day moving average price of $193.81. First Trust NASDAQ 100 Technology Index Fund has a 52-week low of $164.27 and a 52-week high of $211.25.

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.