First Trust NASDAQ 100 Equal Weighted Index Fund (NASDAQ:QQEW) Stock Price Up 1.5% – What’s Next?

First Trust NASDAQ 100 Equal Weighted Index Fund (NASDAQ:QQEW)’s share price shot up 1.5% on Friday . The company traded as high as $127.21 and last traded at $126.88. 24,521 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 52,211 shares. The stock had previously closed at $124.96.

First Trust NASDAQ 100 Equal Weighted Index Fund Price Performance

The stock has a 50 day moving average of $128.85 and a two-hundred day moving average of $125.26. The stock has a market capitalization of $1.95 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 dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were paid a dividend of $0.1439 per share. The ex-dividend date was Friday, December 13th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Assetmark Inc. increased its position 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 in the last quarter. Signaturefd LLC increased its holdings in First Trust NASDAQ 100 Equal Weighted Index Fund by 29.9% during the 3rd quarter. Signaturefd LLC now owns 586 shares of the company’s stock valued at $73,000 after acquiring an additional 135 shares in the last quarter. Key Financial Inc increased its holdings in First Trust NASDAQ 100 Equal Weighted Index Fund by 137.7% during the 3rd quarter. Key Financial Inc now owns 996 shares of the company’s stock valued at $125,000 after acquiring an additional 577 shares in the last quarter. Empower Advisory Group LLC acquired a new position in First Trust NASDAQ 100 Equal Weighted Index Fund during the third quarter worth about $205,000. Finally, Park Avenue Securities LLC purchased a new stake in shares of First Trust NASDAQ 100 Equal Weighted Index Fund in the third quarter valued at about $222,000.

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.