First Trust NASDAQ 100 Equal Weighted Index Fund (NASDAQ:QQEW) Sees Large Volume Increase

First Trust NASDAQ 100 Equal Weighted Index Fund (NASDAQ:QQEW) shares saw unusually-strong trading volume on Wednesday . Approximately 202,201 shares changed hands during mid-day trading, an increase of 60% from the previous session’s volume of 126,128 shares.The stock last traded at $119.67 and had previously closed at $119.96.

First Trust NASDAQ 100 Equal Weighted Index Fund Stock Performance

The stock’s 50-day simple moving average is $120.98 and its 200 day simple moving average is $116.11. The company has a market cap of $2.11 billion, a PE ratio of 29.27 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 Thursday, March 28th. Stockholders of record on Friday, March 22nd were paid a dividend of $0.2153 per share. The ex-dividend date was Thursday, March 21st. This represents a $0.86 annualized dividend and a dividend yield of 0.72%.

Institutional Investors Weigh In On First Trust NASDAQ 100 Equal Weighted Index Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in QQEW. Envestnet Portfolio Solutions Inc. increased its position in First Trust NASDAQ 100 Equal Weighted Index Fund by 6.3% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 2,623 shares of the company’s stock worth $325,000 after buying an additional 156 shares during the period. Manchester Capital Management LLC lifted its holdings in shares of First Trust NASDAQ 100 Equal Weighted Index Fund by 10.0% in the first quarter. Manchester Capital Management LLC now owns 1,100 shares of the company’s stock valued at $136,000 after purchasing an additional 100 shares in the last quarter. BlueChip Wealth Advisors LLC lifted its position in First Trust NASDAQ 100 Equal Weighted Index Fund by 2.0% in the 1st quarter. BlueChip Wealth Advisors LLC now owns 12,118 shares of the company’s stock worth $1,501,000 after buying an additional 232 shares in the last quarter. Garrett Wealth Advisory Group LLC boosted its stake in shares of First Trust NASDAQ 100 Equal Weighted Index Fund by 1.3% during the 1st quarter. Garrett Wealth Advisory Group LLC now owns 99,117 shares of the company’s stock worth $12,281,000 after acquiring an additional 1,304 shares in the last quarter. Finally, YHB Investment Advisors Inc. acquired a new position in First Trust NASDAQ 100 Equal Weighted Index Fund during the 1st quarter worth $62,000.

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.