First Trust NASDAQ 100 Equal Weighted Index Fund (NASDAQ:QQEW) Sees Strong Trading Volume

Shares of First Trust NASDAQ 100 Equal Weighted Index Fund (NASDAQ:QQEW) saw an uptick in trading volume on Monday . 149,439 shares were traded during mid-day trading, an increase of 30% from the previous session’s volume of 114,558 shares.The stock last traded at $122.93 and had previously closed at $123.29.

First Trust NASDAQ 100 Equal Weighted Index Fund Stock Up 0.8 %

The company has a 50-day simple moving average of $121.64 and a two-hundred day simple moving average of $120.53. The stock has a market cap of $2.19 billion, a P/E ratio of 30.27 and a beta of 1.05.

First Trust NASDAQ 100 Equal Weighted Index Fund Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Thursday, June 27th were given a $0.2243 dividend. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $0.90 annualized dividend and a yield of 0.72%.

Hedge Funds Weigh In On First Trust NASDAQ 100 Equal Weighted Index Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in QQEW. Sound Income Strategies LLC bought a new position in shares of First Trust NASDAQ 100 Equal Weighted Index Fund during the fourth quarter valued at approximately $45,000. Key Financial Inc bought a new position in shares of First Trust NASDAQ 100 Equal Weighted Index Fund during the fourth quarter valued at approximately $49,000. YHB Investment Advisors Inc. bought a new position in shares of First Trust NASDAQ 100 Equal Weighted Index Fund during the first quarter valued at approximately $62,000. Mark Sheptoff Financial Planning LLC raised its holdings in First Trust NASDAQ 100 Equal Weighted Index Fund by 625.0% in the fourth quarter. Mark Sheptoff Financial Planning LLC now owns 580 shares of the company’s stock worth $68,000 after purchasing an additional 500 shares in the last quarter. Finally, Global Trust Asset Management LLC raised its holdings in First Trust NASDAQ 100 Equal Weighted Index Fund by 2,055.6% in the fourth quarter. Global Trust Asset Management LLC now owns 970 shares of the company’s stock worth $114,000 after purchasing an additional 925 shares in the last quarter.

About First Trust NASDAQ 100 Equal Weighted Index Fund

The First Trust NASDAQ-100 Equal Weighted Index Fund (QQEW) is an exchange-traded fund that is based on the NASDAQ-100 Equally Weighted index. The fund tracks an equal-weighted version of the NASDAQ 100. QQEW was launched on Apr 19, 2006 and is managed by First Trust.