First Trust NASDAQ 100 Technology Index Fund (NASDAQ:QTEC) Sees Large Drop in Short Interest

First Trust NASDAQ 100 Technology Index Fund (NASDAQ:QTEC) was the target of a significant decrease in short interest in June. As of June 15th, there was short interest totalling 133,700 shares, a decrease of 15.1% from the May 31st total of 157,400 shares. Based on an average daily trading volume, of 86,900 shares, the days-to-cover ratio is currently 1.5 days.

First Trust NASDAQ 100 Technology Index Fund Price Performance

Shares of QTEC opened at $198.23 on Tuesday. The firm has a market cap of $4.17 billion, a P/E ratio of 35.60 and a beta of 1.17. The stock has a 50 day simple moving average of $189.82 and a two-hundred day simple moving average of $185.68. First Trust NASDAQ 100 Technology Index Fund has a 1 year low of $136.99 and a 1 year high of $200.10.

First Trust NASDAQ 100 Technology Index Fund Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Thursday, June 27th were paid a $0.0342 dividend. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $0.14 annualized dividend and a yield of 0.07%. This is a positive change from First Trust NASDAQ 100 Technology Index Fund’s previous quarterly dividend of $0.03.

Institutional Trading of First Trust NASDAQ 100 Technology Index Fund

Several hedge funds and other institutional investors have recently bought and sold shares of QTEC. Fortis Group Advisors LLC purchased a new stake in First Trust NASDAQ 100 Technology Index Fund in the third quarter worth approximately $25,000. MeadowBrook Investment Advisors LLC purchased a new stake in First Trust NASDAQ 100 Technology Index Fund in the fourth quarter worth approximately $30,000. ICA Group Wealth Management LLC purchased a new stake in First Trust NASDAQ 100 Technology Index Fund in the fourth quarter worth approximately $35,000. Mather Group LLC. bought a new stake in First Trust NASDAQ 100 Technology Index Fund in the first quarter valued at approximately $36,000. Finally, Pineridge Advisors LLC bought a new stake in First Trust NASDAQ 100 Technology Index Fund in the fourth quarter valued at approximately $54,000.

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.