First Trust NASDAQ 100 Technology Index Fund (NASDAQ:QTEC) Sees Significant Increase in Short Interest

First Trust NASDAQ 100 Technology Index Fund (NASDAQ:QTEC - Get Free Report) saw a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 359,000 shares, a growth of 47.5% from the January 15th total of 243,400 shares. Based on an average daily volume of 137,700 shares, the days-to-cover ratio is currently 2.6 days.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Three Cord True Wealth Management LLC bought a new position in First Trust NASDAQ 100 Technology Index Fund in the fourth quarter valued at about $295,000. Richmond Investment Services LLC bought a new position in shares of First Trust NASDAQ 100 Technology Index Fund during the fourth quarter valued at $224,000. Novak & Powell Financial Services Inc. lifted its holdings in shares of First Trust NASDAQ 100 Technology Index Fund by 1.5% during the fourth quarter. Novak & Powell Financial Services Inc. now owns 11,187 shares of the company's stock worth $2,106,000 after purchasing an additional 165 shares during the period. First Heartland Consultants Inc. grew its stake in shares of First Trust NASDAQ 100 Technology Index Fund by 105.0% in the fourth quarter. First Heartland Consultants Inc. now owns 6,207 shares of the company's stock worth $1,169,000 after purchasing an additional 3,179 shares during the last quarter. Finally, Snowden Capital Advisors LLC raised its position in First Trust NASDAQ 100 Technology Index Fund by 33.3% during the 4th quarter. Snowden Capital Advisors LLC now owns 10,818 shares of the company's stock worth $2,037,000 after purchasing an additional 2,702 shares during the last quarter.

First Trust NASDAQ 100 Technology Index Fund Trading Down 0.1 %

NASDAQ:QTEC traded down $0.26 on Wednesday, hitting $210.41. The company had a trading volume of 95,058 shares, compared to its average volume of 150,030. First Trust NASDAQ 100 Technology Index Fund has a 52 week low of $164.27 and a 52 week high of $211.25. The stock has a market capitalization of $4.21 billion, a price-to-earnings ratio of 35.60 and a beta of 1.17. The firm has a 50 day moving average of $196.85 and a two-hundred day moving average of $192.62.

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.