First Trust NASDAQ 100 Equal Weighted Index Fund (NASDAQ:QQEW) Shares Up 0.8% – Here’s Why

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

First Trust NASDAQ 100 Equal Weighted Index Fund Stock Up 0.8 %

The firm has a 50 day simple moving average of $124.37 and a two-hundred day simple moving average of $122.48. The stock has a market capitalization of $1.91 billion, a P/E ratio of 30.27 and a beta of 1.05.

First Trust NASDAQ 100 Equal Weighted Index Fund Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.42%.

Institutional Trading of First Trust NASDAQ 100 Equal Weighted Index Fund

A number of hedge funds have recently added to or reduced their stakes in the stock. ORG Partners LLC bought a new stake in First Trust NASDAQ 100 Equal Weighted Index Fund during the 2nd quarter worth $35,000. Signaturefd LLC grew its holdings in shares of First Trust NASDAQ 100 Equal Weighted Index Fund by 59.9% during the second quarter. Signaturefd LLC now owns 451 shares of the company’s stock worth $56,000 after purchasing an additional 169 shares during the last quarter. Assetmark Inc. increased its stake in shares of First Trust NASDAQ 100 Equal Weighted Index Fund by 36.5% in the third quarter. Assetmark Inc. now owns 490 shares of the company’s stock valued at $61,000 after buying an additional 131 shares during the period. Key Financial Inc raised its holdings in First Trust NASDAQ 100 Equal Weighted Index Fund by 137.7% in the 3rd quarter. Key Financial Inc now owns 996 shares of the company’s stock valued at $125,000 after buying an additional 577 shares during the last quarter. Finally, Manchester Capital Management LLC boosted its position in First Trust NASDAQ 100 Equal Weighted Index Fund by 10.0% during the 1st quarter. Manchester Capital Management LLC now owns 1,100 shares of the company’s stock worth $136,000 after buying an additional 100 shares during the period.

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.