First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC) Short Interest Down 15.8% in May

First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC) was the recipient of a significant decline in short interest during the month of May. As of May 15th, there was short interest totalling 662,000 shares, a decline of 15.8% from the April 30th total of 786,400 shares. Currently, 4.8% of the company’s stock are short sold. Based on an average daily volume of 380,800 shares, the days-to-cover ratio is currently 1.7 days.

First Trust NASDAQ-100 Technology Sector Index Fund Stock Performance

Shares of NASDAQ:QTEC traded up $1.79 during midday trading on Tuesday, reaching $197.22. 29,527 shares of the company’s stock traded hands, compared to its average volume of 291,845. The company has a market cap of $2.73 billion, a price-to-earnings ratio of 31.26 and a beta of 1.17. The stock has a 50 day moving average of $177.99 and a 200 day moving average of $188.58. First Trust NASDAQ-100 Technology Sector Index Fund has a one year low of $143.80 and a one year high of $211.25.

First Trust NASDAQ-100 Technology Sector Index Fund Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 27th were issued a $0.0083 dividend. This represents a $0.03 annualized dividend and a yield of 0.02%. The ex-dividend date was Thursday, March 27th.

Institutional Trading of First Trust NASDAQ-100 Technology Sector Index Fund

Several large investors have recently modified their holdings of the company. Principal Securities Inc. grew its position in First Trust NASDAQ-100 Technology Sector Index Fund by 0.6% during the first quarter. Principal Securities Inc. now owns 9,521 shares of the company’s stock valued at $1,793,000 after buying an additional 60 shares during the period. Tucker Asset Management LLC grew its stake in First Trust NASDAQ-100 Technology Sector Index Fund by 37.0% during the fourth quarter. Tucker Asset Management LLC now owns 226 shares of the company’s stock valued at $43,000 after acquiring an additional 61 shares in the last quarter. United Advisor Group LLC increased its holdings in shares of First Trust NASDAQ-100 Technology Sector Index Fund by 2.9% in the fourth quarter. United Advisor Group LLC now owns 2,220 shares of the company’s stock worth $418,000 after purchasing an additional 63 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its stake in First Trust NASDAQ-100 Technology Sector Index Fund by 10.5% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 693 shares of the company’s stock worth $120,000 after acquiring an additional 66 shares during the last quarter. Finally, REAP Financial Group LLC raised its stake in First Trust NASDAQ-100 Technology Sector Index Fund by 68.6% during the fourth quarter. REAP Financial Group LLC now owns 172 shares of the company’s stock valued at $32,000 after purchasing an additional 70 shares in the last quarter.

About First Trust NASDAQ-100 Technology Sector 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.