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

First Trust NASDAQ 100 Technology Index Fund (NASDAQ:QTEC - Get Free Report) saw a significant decline in short interest during the month of December. As of December 15th, there was short interest totalling 340,100 shares, a decline of 29.2% from the November 30th total of 480,600 shares. Based on an average trading volume of 121,900 shares, the days-to-cover ratio is presently 2.8 days.

First Trust NASDAQ 100 Technology Index Fund Stock Down 1.4 %

Shares of QTEC traded down $2.68 during trading hours on Friday, reaching $192.65. 93,836 shares of the company traded hands, compared to its average volume of 113,789. The stock has a market capitalization of $3.93 billion, a PE ratio of 35.60 and a beta of 1.17. The stock has a fifty day simple moving average of $195.30 and a 200 day simple moving average of $192.30. First Trust NASDAQ 100 Technology Index Fund has a fifty-two week low of $164.27 and a fifty-two week high of $206.52.

Institutional Investors Weigh In On First Trust NASDAQ 100 Technology Index Fund

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Pacifica Partners Inc. acquired a new position in First Trust NASDAQ 100 Technology Index Fund in the third quarter valued at $25,000. Valley Wealth Managers Inc. acquired a new position in shares of First Trust NASDAQ 100 Technology Index Fund during the 3rd quarter valued at about $30,000. ORG Wealth Partners LLC purchased a new position in shares of First Trust NASDAQ 100 Technology Index Fund during the 3rd quarter worth about $39,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of First Trust NASDAQ 100 Technology Index Fund in the second quarter worth approximately $55,000. Finally, Northwest Investment Counselors LLC purchased a new stake in First Trust NASDAQ 100 Technology Index Fund in the third quarter valued at approximately $91,000.

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.