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

Shares of First Trust NASDAQ 100 Equal Weighted Index Fund (NASDAQ:QQEW) saw an uptick in trading volume on Thursday . 153,432 shares were traded during mid-day trading, an increase of 136% from the previous session’s volume of 65,029 shares.The stock last traded at $134.30 and had previously closed at $136.00.

First Trust NASDAQ 100 Equal Weighted Index Fund Price Performance

The business’s fifty day moving average price is $129.54 and its 200-day moving average price is $127.02. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of 28.27 and a beta of 1.03.

First Trust NASDAQ 100 Equal Weighted Index Fund Cuts Dividend

The business 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

A number of institutional investors and hedge funds have recently bought and sold shares of QQEW. Signaturefd LLC boosted its holdings in First Trust NASDAQ 100 Equal Weighted Index Fund by 29.9% during the third quarter. Signaturefd LLC now owns 586 shares of the company’s stock worth $73,000 after purchasing an additional 135 shares during the last quarter. Private Advisor Group LLC grew its holdings in shares of First Trust NASDAQ 100 Equal Weighted Index Fund by 4.2% in the third quarter. Private Advisor Group LLC now owns 49,056 shares of the company’s stock valued at $6,154,000 after acquiring an additional 1,981 shares in the last quarter. Arkadios Wealth Advisors increased its position in shares of First Trust NASDAQ 100 Equal Weighted Index Fund by 218.0% during the third quarter. Arkadios Wealth Advisors now owns 12,378 shares of the company’s stock valued at $1,553,000 after acquiring an additional 8,486 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in First Trust NASDAQ 100 Equal Weighted Index Fund by 17.7% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 9,378 shares of the company’s stock worth $1,176,000 after acquiring an additional 1,408 shares during the period. Finally, Barrett & Company Inc. boosted its position in First Trust NASDAQ 100 Equal Weighted Index Fund by 2.3% in the third quarter. Barrett & Company Inc. now owns 4,663 shares of the company’s stock worth $585,000 after purchasing an additional 106 shares during the last quarter.

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.