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

First Trust NASDAQ 100 Technology Index Fund (NASDAQ:QTEC) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $163.92 and last traded at $165.17, with a volume of 182621 shares. The stock had previously closed at $176.49.

First Trust NASDAQ 100 Technology Index Fund Stock Down 7.5 %

The business has a fifty day moving average price of $191.52 and a 200-day moving average price of $192.86. The company has a market cap of $3.18 billion, a P/E ratio of 31.09 and a beta of 1.17.

First Trust NASDAQ 100 Technology Index Fund Cuts Dividend

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

Institutional Trading of First Trust NASDAQ 100 Technology Index Fund

Hedge funds and other institutional investors have recently bought and sold shares of the business. Raymond James Financial Inc. bought a new position in shares of First Trust NASDAQ 100 Technology Index Fund during the fourth quarter worth approximately $93,018,000. Allworth Financial LP grew its position in First Trust NASDAQ 100 Technology Index Fund by 10,886.7% during the fourth quarter. Allworth Financial LP now owns 131,401 shares of the company’s stock worth $26,582,000 after buying an additional 130,205 shares in the last quarter. Marshall Wace LLP increased its stake in First Trust NASDAQ 100 Technology Index Fund by 319.6% during the 4th quarter. Marshall Wace LLP now owns 130,023 shares of the company’s stock worth $24,481,000 after acquiring an additional 99,037 shares during the period. First Trust Advisors LP raised its holdings in First Trust NASDAQ 100 Technology Index Fund by 2.1% in the 4th quarter. First Trust Advisors LP now owns 4,296,257 shares of the company’s stock valued at $808,899,000 after acquiring an additional 90,302 shares in the last quarter. Finally, Wealthfront Advisers LLC lifted its position in shares of First Trust NASDAQ 100 Technology Index Fund by 849.8% during the 4th quarter. Wealthfront Advisers LLC now owns 90,016 shares of the company’s stock valued at $16,948,000 after acquiring an additional 80,539 shares during the period.

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.