First Trust NASDAQ 100 Technology Index Fund (NASDAQ:QTEC) Sets New 1-Year Low – Should You Sell?

First Trust NASDAQ 100 Technology Index Fund (NASDAQ:QTEC)’s share price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $163.92 and last traded at $165.17, with a volume of 182621 shares. The stock had previously closed at $176.49.

First Trust NASDAQ 100 Technology Index Fund Stock Performance

The stock has a market capitalization of $3.18 billion, a P/E ratio of 31.09 and a beta of 1.17. The firm’s fifty day simple moving average is $191.52 and its 200 day simple moving average is $192.86.

First Trust NASDAQ 100 Technology Index Fund Cuts Dividend

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

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC acquired a new position in shares of First Trust NASDAQ 100 Technology Index Fund during the 3rd quarter worth $15,358,000. Tudor Financial Inc. acquired a new position in First Trust NASDAQ 100 Technology Index Fund during the third quarter worth about $1,069,000. Sanctuary Advisors LLC lifted its holdings in shares of First Trust NASDAQ 100 Technology Index Fund by 37.4% in the third quarter. Sanctuary Advisors LLC now owns 2,800 shares of the company’s stock worth $551,000 after acquiring an additional 762 shares during the last quarter. FMR LLC lifted its holdings in shares of First Trust NASDAQ 100 Technology Index Fund by 4.9% in the third quarter. FMR LLC now owns 6,407 shares of the company’s stock worth $1,226,000 after acquiring an additional 297 shares during the last quarter. Finally, HighTower Advisors LLC boosted its stake in shares of First Trust NASDAQ 100 Technology Index Fund by 0.4% in the 3rd quarter. HighTower Advisors LLC now owns 13,996 shares of the company’s stock valued at $2,676,000 after purchasing an additional 60 shares in the last quarter.

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.