First Trust NASDAQ-100 Ex-Technology Sector Index Fund (NASDAQ:QQXT) Trading 0.7% Higher – Here’s Why

First Trust NASDAQ-100 Ex-Technology Sector Index Fund (NASDAQ:QQXT)’s share price was up 0.7% during trading on Thursday . The company traded as high as $98.25 and last traded at $98.25. Approximately 27,202 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 96,126 shares. The stock had previously closed at $97.56.

First Trust NASDAQ-100 Ex-Technology Sector Index Fund Stock Up 0.7%

The stock has a 50 day moving average of $99.09 and a 200 day moving average of $96.40. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 23.20 and a beta of 0.98.

First Trust NASDAQ-100 Ex-Technology Sector Index Fund Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Thursday, June 26th were paid a $0.1606 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Thursday, June 26th.

Hedge Funds Weigh In On First Trust NASDAQ-100 Ex-Technology Sector Index Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. lifted its stake in shares of First Trust NASDAQ-100 Ex-Technology Sector Index Fund by 4.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 5,766 shares of the company’s stock worth $541,000 after acquiring an additional 245 shares during the period. Davis Investment Partners LLC grew its stake in First Trust NASDAQ-100 Ex-Technology Sector Index Fund by 3.3% during the second quarter. Davis Investment Partners LLC now owns 11,358 shares of the company’s stock worth $1,132,000 after purchasing an additional 361 shares during the period. Bank of America Corp DE grew its stake in First Trust NASDAQ-100 Ex-Technology Sector Index Fund by 4.5% during the fourth quarter. Bank of America Corp DE now owns 10,632 shares of the company’s stock worth $990,000 after purchasing an additional 453 shares during the period. Cetera Investment Advisers grew its stake in First Trust NASDAQ-100 Ex-Technology Sector Index Fund by 31.7% during the second quarter. Cetera Investment Advisers now owns 3,337 shares of the company’s stock worth $330,000 after purchasing an additional 804 shares during the period. Finally, EP Wealth Advisors LLC acquired a new stake in First Trust NASDAQ-100 Ex-Technology Sector Index Fund during the fourth quarter worth approximately $112,000.

About First Trust NASDAQ-100 Ex-Technology Sector Index Fund

The First Trust NASDAQ-100 Ex-Technology Sector Index Fund (QQXT) is an exchange-traded fund that is based on the NASDAQ-100 Ex-Tech Sector index. The fund tracks an equal-weighted index of NASDAQ 100 stocks that excludes technology companies. QQXT was launched on Feb 8, 2007 and is managed by First Trust.