On May 8, 2026, NewSquare Capital disclosed the sale of 64,705 shares of the First Trust NASDAQ-100-Technology Sector Index Fund (QTEC), amounting to approximately $14.80 million. This reduction leaves QTEC as a mere 0.03% of NewSquare’s reportable assets under management, reflecting a strategic shift following a significant rally in technology stocks, with QTEC up nearly 60% over the past year.
This transaction is noteworthy as it highlights a potential profit-taking strategy by NewSquare amid a concentrated market rally, particularly in the semiconductor and software sectors, which dominate QTEC’s holdings. Despite its strong performance, QTEC trades at a high price-to-earnings ratio above 38, suggesting that valuations may be stretched.
For market professionals, this sale could indicate a cautious stance towards high-flying tech stocks, emphasizing the importance of monitoring sector exposure and valuation metrics in the current market environment.
Source: fool.com