First Trust NASDAQ 100 Equal Weighted Index Fund (NASDAQ:QQEW) Stock Price Up 0.8% – Still a Buy?

First Trust NASDAQ 100 Equal Weighted Index Fund (NASDAQ:QQEW) rose 0.8% during trading on Friday . The company traded as high as $125.32 and last traded at $124.67. Approximately 126,578 shares changed hands during mid-day trading, an increase of 35% from the average daily volume of 93,700 shares. The stock had previously closed at $123.69.

First Trust NASDAQ 100 Equal Weighted Index Fund Stock Performance

The firm’s 50 day moving average is $124.37 and its 200-day moving average is $122.48. The company has a market cap of $1.91 billion, a PE ratio of 30.27 and a beta of 1.05.

First Trust NASDAQ 100 Equal Weighted Index Fund Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 26th were issued a $0.1298 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $0.52 annualized dividend and a dividend yield of 0.42%.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC boosted its holdings in First Trust NASDAQ 100 Equal Weighted Index Fund by 25.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 8,056 shares of the company’s stock valued at $998,000 after purchasing an additional 1,632 shares during the last quarter. Manchester Capital Management LLC increased its stake in First Trust NASDAQ 100 Equal Weighted Index Fund by 10.0% during the first quarter. Manchester Capital Management LLC now owns 1,100 shares of the company’s stock worth $136,000 after acquiring an additional 100 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised 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 valued at $325,000 after purchasing an additional 156 shares during the period. Cozad Asset Management Inc. lifted its stake in shares of First Trust NASDAQ 100 Equal Weighted Index Fund by 3.8% in the 1st quarter. Cozad Asset Management Inc. now owns 25,470 shares of the company’s stock valued at $3,156,000 after purchasing an additional 926 shares during the last quarter. Finally, Gratus Wealth Advisors LLC raised its holdings in First Trust NASDAQ 100 Equal Weighted Index Fund by 359.4% in the 1st quarter. Gratus Wealth Advisors LLC now owns 190,995 shares of the company’s stock valued at $22,157,000 after buying an additional 149,416 shares during the period.

First Trust NASDAQ 100 Equal Weighted Index Fund Company Profile

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.