Technology sector

Short-term interest on First Trust NASDAQ-100 Ex-Technology Sector Index Fund (NASDAQ:QQXT) drops 22.2%

The First Trust NASDAQ-100 Ex-Technology Sector Index Fund (NASDAQ:QQXT – Get Rating) benefited from a significant drop in short interest rates during the month of July. As of July 31, there was short interest totaling 5,600 shares, down 22.2% from the July 15 total of 7,200 shares. Based on an average trading volume of 7,000 shares, the day-to-cover ratio is currently 0.8 days.

First Trust NASDAQ-100 Ex-Technology Sector Index Fund Stock Performance

QQXT opened at $80.53 on Friday. The company’s 50-day moving average is $73.86 and its 200-day moving average is $76.80. The First Trust NASDAQ-100 Ex-Technology Sector Index Fund has a 1-year low of $67.74 and a 1-year high of $90.54.

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

The company also recently announced a quarterly dividend, which was paid on Thursday, June 30. Shareholders of record on Monday, June 27 received a dividend of $0.125 per share. The ex-dividend date was Friday, June 24. This represents a dividend of $0.50 on an annualized basis and a dividend yield of 0.62%.

Institutional entries and exits

A number of large investors have recently shifted their holdings to QQXT. Concourse Financial Group Securities Inc. increased its holdings in First Trust NASDAQ-100 Ex-Technology Sector Index Fund by 53.2% in Q4. Concourse Financial Group Securities Inc. now owns 982 shares of the company valued at $87,000 after buying 341 additional shares in the last quarter. Flow Traders US LLC acquired a new stake in First Trust NASDAQ-100 Ex-Technology Sector Index Fund in the second quarter worth $221,000. Benjamin F. Edwards & Company Inc. increased its position in the First Trust NASDAQ-100 Ex-Technology Sector Index Fund by 8.7% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 2,764 shares of the company worth $245,000 after buying 222 more shares in the last quarter. WMG Financial Advisors LLC acquired a new position in First Trust NASDAQ-100 Ex-Technology Sector Index Fund during Q2 for a value of approximately $898,000. Finally, LPL Financial LLC increased its holdings in the First Trust NASDAQ-100 Ex-Technology Sector Index Fund by 49.9% in the second quarter. LPL Financial LLC now owns 16,922 shares of the company valued at $1,194,000 after acquiring an additional 5,630 shares in the last quarter.

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Further reading

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