First Trust NASDAQ 100 Equal Weighted Index Fund (NASDAQ:QQEW) Sees Strong Trading Volume – Should You Buy?

First Trust NASDAQ 100 Equal Weighted Index Fund (NASDAQ:QQEW) saw strong trading volume on Tuesday . 149,400 shares were traded during mid-day trading, an increase of 99% from the previous session’s volume of 75,257 shares.The stock last traded at $121.52 and had previously closed at $122.22.

First Trust NASDAQ 100 Equal Weighted Index Fund Trading Down 0.7 %

The company has a market capitalization of $1.77 billion, a PE ratio of 26.92 and a beta of 1.05. The firm’s 50-day simple moving average is $129.60 and its 200-day simple moving average is $127.70.

First Trust NASDAQ 100 Equal Weighted Index Fund Cuts Dividend

The company also recently disclosed a dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were issued a dividend of $0.1439 per share. The ex-dividend date of this dividend was Friday, December 13th.

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

Several hedge funds have recently made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new stake in shares of First Trust NASDAQ 100 Equal Weighted Index Fund in the fourth quarter valued at about $31,000. Barclays PLC purchased a new stake in shares of First Trust NASDAQ 100 Equal Weighted Index Fund in the 4th quarter worth approximately $50,000. Assetmark Inc. boosted its stake in shares of First Trust NASDAQ 100 Equal Weighted Index Fund by 36.5% during the third quarter. Assetmark Inc. now owns 490 shares of the company’s stock valued at $61,000 after purchasing an additional 131 shares in the last quarter. Avior Wealth Management LLC bought a new position in First Trust NASDAQ 100 Equal Weighted Index Fund in the fourth quarter worth approximately $69,000. Finally, CIBC Private Wealth Group LLC purchased a new stake in First Trust NASDAQ 100 Equal Weighted Index Fund during the fourth quarter worth $72,000.

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.