First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC) Short Interest Down 18.6% in December

First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC) saw a significant drop in short interest in the month of December. As of December 31st, there was short interest totaling 361,469 shares, a drop of 18.6% from the December 15th total of 444,286 shares. Based on an average trading volume of 159,718 shares, the days-to-cover ratio is presently 2.3 days. Currently, 2.9% of the shares of the stock are short sold. Currently, 2.9% of the shares of the stock are short sold. Based on an average trading volume of 159,718 shares, the days-to-cover ratio is presently 2.3 days.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Stratos Wealth Partners LTD. boosted its stake in shares of First Trust NASDAQ-100 Technology Sector Index Fund by 1.6% during the 4th quarter. Stratos Wealth Partners LTD. now owns 12,652 shares of the company’s stock worth $2,913,000 after acquiring an additional 201 shares in the last quarter. Genesee Capital Advisors LLC purchased a new stake in First Trust NASDAQ-100 Technology Sector Index Fund during the fourth quarter worth $200,000. Trust Co. of Vermont grew its holdings in First Trust NASDAQ-100 Technology Sector Index Fund by 48.4% in the fourth quarter. Trust Co. of Vermont now owns 230 shares of the company’s stock valued at $53,000 after purchasing an additional 75 shares during the last quarter. Santori & Peters Inc. increased its position in shares of First Trust NASDAQ-100 Technology Sector Index Fund by 0.8% in the fourth quarter. Santori & Peters Inc. now owns 10,033 shares of the company’s stock valued at $2,310,000 after buying an additional 75 shares in the last quarter. Finally, Brookstone Capital Management increased its position in shares of First Trust NASDAQ-100 Technology Sector Index Fund by 186.3% in the fourth quarter. Brookstone Capital Management now owns 3,192 shares of the company’s stock valued at $735,000 after buying an additional 2,077 shares in the last quarter.

First Trust NASDAQ-100 Technology Sector Index Fund Stock Down 1.9%

NASDAQ:QTEC opened at $232.46 on Wednesday. The firm’s fifty day simple moving average is $232.47 and its 200-day simple moving average is $226.29. The stock has a market cap of $2.92 billion, a PE ratio of 35.79 and a beta of 1.27. First Trust NASDAQ-100 Technology Sector Index Fund has a fifty-two week low of $143.80 and a fifty-two week high of $244.32.

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.