First Trust NASDAQ 100 Technology Index Fund (NASDAQ:QTEC) Short Interest Down 26.7% in September

First Trust NASDAQ 100 Technology Index Fund (NASDAQ:QTEC) saw a significant drop in short interest during the month of September. As of September 15th, there was short interest totalling 434,500 shares, a drop of 26.7% from the August 31st total of 592,800 shares. Based on an average daily trading volume, of 119,000 shares, the days-to-cover ratio is presently 3.7 days.

First Trust NASDAQ 100 Technology Index Fund Stock Performance

Shares of First Trust NASDAQ 100 Technology Index Fund stock traded down $0.91 during trading on Friday, hitting $192.04. 195,690 shares of the stock were exchanged, compared to its average volume of 111,459. First Trust NASDAQ 100 Technology Index Fund has a 12 month low of $136.99 and a 12 month high of $206.52. The stock’s fifty day moving average is $185.25 and its 200 day moving average is $188.82. The stock has a market cap of $4.00 billion, a PE ratio of 35.60 and a beta of 1.17.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Concentrum Wealth Management grew its stake in shares of First Trust NASDAQ 100 Technology Index Fund by 3.6% in the fourth quarter. Concentrum Wealth Management now owns 18,999 shares of the company’s stock worth $3,334,000 after purchasing an additional 667 shares in the last quarter. Orion Portfolio Solutions LLC bought a new stake in shares of First Trust NASDAQ 100 Technology Index Fund during the 4th quarter worth about $521,000. Steward Partners Investment Advisory LLC lifted its stake in shares of First Trust NASDAQ 100 Technology Index Fund by 11.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,988 shares of the company’s stock worth $700,000 after acquiring an additional 408 shares during the period. Stifel Financial Corp boosted its holdings in shares of First Trust NASDAQ 100 Technology Index Fund by 32.6% in the fourth quarter. Stifel Financial Corp now owns 71,342 shares of the company’s stock valued at $12,519,000 after acquiring an additional 17,558 shares in the last quarter. Finally, TFG Advisers LLC boosted its holdings in shares of First Trust NASDAQ 100 Technology Index Fund by 4.1% in the fourth quarter. TFG Advisers LLC now owns 8,529 shares of the company’s stock valued at $1,497,000 after acquiring an additional 339 shares in the last quarter.

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.