First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC) Reaches New 12-Month High – Still a Buy?

First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC) shares reached a new 52-week high on Monday . The company traded as high as $338.60 and last traded at $338.02, with a volume of 6425 shares changing hands. The stock had previously closed at $335.18.

First Trust NASDAQ-100 Technology Sector Index Fund Stock Down 4.7%

The business’s 50-day simple moving average is $293.25 and its two-hundred day simple moving average is $252.01. The firm has a market cap of $3.71 billion, a price-to-earnings ratio of 35.79 and a beta of 1.43.

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

Hedge funds have recently bought and sold shares of the business. Logan Capital Management Inc. acquired a new stake in First Trust NASDAQ-100 Technology Sector Index Fund in the third quarter valued at approximately $27,000. Hilton Head Capital Partners LLC acquired a new position in shares of First Trust NASDAQ-100 Technology Sector Index Fund during the 4th quarter worth approximately $27,000. O Shaughnessy Asset Management LLC purchased a new position in shares of First Trust NASDAQ-100 Technology Sector Index Fund during the 4th quarter valued at approximately $34,000. Evelyn Partners Investment Management LLP purchased a new position in shares of First Trust NASDAQ-100 Technology Sector Index Fund during the 4th quarter valued at approximately $40,000. Finally, Godfrey Financial Associates Inc. acquired a new stake in First Trust NASDAQ-100 Technology Sector Index Fund in the 4th quarter valued at $46,000.

First Trust NASDAQ-100 Technology Sector 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.