First Trust NASDAQ 100 Equal Weighted Index Fund (NASDAQ:QQEW) Sees Unusually-High Trading Volume – Still a Buy?

First Trust NASDAQ 100 Equal Weighted Index Fund (NASDAQ:QQEW) shares saw strong trading volume on Wednesday . 101,664 shares traded hands during trading, an increase of 13% from the previous session’s volume of 89,818 shares.The stock last traded at $108.17 and had previously closed at $106.81.

First Trust NASDAQ 100 Equal Weighted Index Fund Trading Up 0.4 %

The stock has a market cap of $1.57 billion, a PE ratio of 27.58 and a beta of 1.05. The business has a 50-day moving average price of $126.17 and a 200-day moving average price of $127.30.

First Trust NASDAQ 100 Equal Weighted Index Fund Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 27th were paid a $0.1529 dividend. The ex-dividend date of this dividend was Thursday, March 27th. This is a positive change from First Trust NASDAQ 100 Equal Weighted Index Fund’s previous quarterly dividend of $0.13. This represents a $0.61 dividend on an annualized basis and a dividend yield of 0.57%.

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

Several hedge funds and other institutional investors have recently modified their holdings of QQEW. FMR LLC increased its stake in shares of First Trust NASDAQ 100 Equal Weighted Index Fund by 12.0% in the 3rd quarter. FMR LLC now owns 3,666 shares of the company’s stock worth $460,000 after acquiring an additional 393 shares during the last quarter. Stifel Financial Corp boosted its position in shares of First Trust NASDAQ 100 Equal Weighted Index Fund by 3.0% during the third quarter. Stifel Financial Corp now owns 133,872 shares of the company’s stock worth $16,795,000 after buying an additional 3,860 shares during the period. MML Investors Services LLC lifted its stake in First Trust NASDAQ 100 Equal Weighted Index Fund by 6.6% during the 3rd quarter. MML Investors Services LLC now owns 64,538 shares of the company’s stock worth $8,096,000 after acquiring an additional 4,011 shares in the last quarter. World Investment Advisors LLC grew its position in First Trust NASDAQ 100 Equal Weighted Index Fund by 2.7% in the 3rd quarter. World Investment Advisors LLC now owns 3,899 shares of the company’s stock valued at $489,000 after acquiring an additional 104 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. lifted its position in shares of First Trust NASDAQ 100 Equal Weighted Index Fund by 3.6% during the third quarter. B. Riley Wealth Advisors Inc. now owns 20,652 shares of the company’s stock worth $2,572,000 after purchasing an additional 726 shares in the last quarter.

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.