First Trust NASDAQ 100 Equal Weighted Index Fund (NASDAQ:QQEW) Sees Large Volume Increase – Still a Buy?

First Trust NASDAQ 100 Equal Weighted Index Fund (NASDAQ:QQEW) shares saw an uptick in trading volume on Thursday . 292,942 shares changed hands during mid-day trading, an increase of 271% from the previous session’s volume of 79,004 shares.The stock last traded at $117.44 and had previously closed at $122.62.

First Trust NASDAQ 100 Equal Weighted Index Fund Stock Down 4.9 %

The firm has a market cap of $1.71 billion, a PE ratio of 27.58 and a beta of 1.05. The stock has a 50 day moving average price of $128.20 and a two-hundred day moving average price of $127.78.

First Trust NASDAQ 100 Equal Weighted Index Fund Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 27th were paid a dividend of $0.1529 per share. This is a positive change from First Trust NASDAQ 100 Equal Weighted Index Fund’s previous quarterly dividend of $0.13. The ex-dividend date was Thursday, March 27th. This represents a $0.61 dividend on an annualized basis and a yield of 0.52%.

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

Institutional investors and hedge funds have recently made changes to their positions in the stock. Raymond James Financial Inc. purchased a new position in First Trust NASDAQ 100 Equal Weighted Index Fund in the 4th quarter worth $119,160,000. LPL Financial LLC raised its stake in shares of First Trust NASDAQ 100 Equal Weighted Index Fund by 12.2% in the fourth quarter. LPL Financial LLC now owns 856,301 shares of the company’s stock worth $107,003,000 after purchasing an additional 92,847 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of First Trust NASDAQ 100 Equal Weighted Index Fund by 22.9% during the fourth quarter. Royal Bank of Canada now owns 285,192 shares of the company’s stock worth $35,638,000 after purchasing an additional 53,231 shares during the period. Gratus Wealth Advisors LLC boosted its position in First Trust NASDAQ 100 Equal Weighted Index Fund by 0.7% in the fourth quarter. Gratus Wealth Advisors LLC now owns 193,504 shares of the company’s stock valued at $24,180,000 after buying an additional 1,270 shares during the last quarter. Finally, Commonwealth Equity Services LLC increased its holdings in First Trust NASDAQ 100 Equal Weighted Index Fund by 19.3% in the 4th quarter. Commonwealth Equity Services LLC now owns 193,207 shares of the company’s stock worth $24,143,000 after buying an additional 31,219 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.