First Trust NASDAQ 100 Technology Index Fund Stock Hits New 52-Week High

First Trust NASDAQ 100 Technology Index Fund (NASDAQ:QTEC) reached a new milestone on Thursday as its stock price hit a 52-week high of $206.15. The company’s shares closed at $205.96, with a trading volume of 10172 shares. This surge in price comes as the company continues to show strong performance in the market.

With a market capitalization of $4.24 billion, a price-to-earnings ratio of 35.60, and a beta of 1.17, First Trust NASDAQ 100 Technology Index Fund has been attracting investors’ attention. The stock has a 50-day moving average price of $193.75 and a two-hundred day moving average price of $187.33, indicating a positive trend in its performance.

In addition to its stock price hitting a new high, First Trust NASDAQ 100 Technology Index Fund also announced an increase in its quarterly dividend. Investors who were on record on Thursday, June 27th received a dividend of $0.0342, up from the previous quarterly dividend of $0.03. This represents a $0.14 annualized dividend and a yield of 0.07%.

Hedge funds have also shown interest in First Trust NASDAQ 100 Technology Index Fund, with several increasing their stakes in the company. Sunbelt Securities Inc., J.W. Cole Advisors Inc., Kesler Norman & Wride LLC, Comerica Bank, and MeadowBrook Investment Advisors LLC are among the hedge funds that have recently added to their holdings in the company.

The First Trust NASDAQ-100-Technology Sector Index Fund (QTEC) is an exchange-traded fund based on the NASDAQ-100 Technology Sector index. Launched in 2006, the fund tracks an equal-weighted index of the largest Nasdaq-listed US technology stocks and is managed by First Trust.

As First Trust NASDAQ 100 Technology Index Fund continues to show strong performance and attract investor interest, it remains a stock to watch in the technology sector.