First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC) Hits New 12-Month High – Still a Buy?

First Trust NASDAQ-100 Technology Sector Index Fund (NASDAQ:QTEC)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $297.90 and last traded at $297.80, with a volume of 111836 shares trading hands. The stock had previously closed at $294.91.

First Trust NASDAQ-100 Technology Sector Index Fund Trading Up 0.9%

The stock’s 50-day moving average is $239.52 and its 200-day moving average is $235.16. The company has a market cap of $3.40 billion, a price-to-earnings ratio of 35.79 and a beta of 1.39.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Hilton Head Capital Partners LLC acquired a new position in First Trust NASDAQ-100 Technology Sector Index Fund during the fourth quarter worth $27,000. Logan Capital Management Inc. acquired a new position in First Trust NASDAQ-100 Technology Sector Index Fund during the third quarter worth $27,000. O Shaughnessy Asset Management LLC acquired a new position in First Trust NASDAQ-100 Technology Sector Index Fund during the fourth quarter worth $34,000. Evelyn Partners Investment Management LLP acquired a new position in First Trust NASDAQ-100 Technology Sector Index Fund during the fourth quarter worth $40,000. Finally, Godfrey Financial Associates Inc. acquired a new position in First Trust NASDAQ-100 Technology Sector Index Fund during the fourth quarter worth $46,000.

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.