First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) Stock Short Interest Jumps 300.7%

First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) saw a significant increase in short interest in October. As of October 15th, there was short interest totaling 48,991 shares, an increase of 300.7% from the September 30th total of 12,227 shares. Currently, 0.4% of the shares of the company are sold short. Based on an average trading volume of 45,402 shares, the short-interest ratio is currently 1.1 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. POM Investment Strategies LLC grew its stake in First Trust NASDAQ-100 Equal Weighted Index Fund by 231.9% in the 2nd quarter. POM Investment Strategies LLC now owns 229 shares of the company’s stock valued at $37,000 after purchasing an additional 160 shares during the period. Ascentis Independent Advisors purchased a new position in shares of First Trust NASDAQ-100 Equal Weighted Index Fund in the 1st quarter worth about $36,000. Toth Financial Advisory Corp purchased a new position in shares of First Trust NASDAQ-100 Equal Weighted Index Fund in the 3rd quarter worth about $52,000. Parallel Advisors LLC boosted its holdings in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 1,534.0% in the 1st quarter. Parallel Advisors LLC now owns 817 shares of the company’s stock worth $104,000 after buying an additional 767 shares during the last quarter. Finally, Signaturefd LLC bought a new position in First Trust NASDAQ-100 Equal Weighted Index Fund during the third quarter valued at about $167,000.

First Trust NASDAQ-100 Equal Weighted Index Fund Trading Up 0.5%

Shares of QQEW traded up $0.72 on Wednesday, reaching $158.56. 78,890 shares of the company’s stock traded hands, compared to its average volume of 48,028. The stock has a market cap of $1.86 billion, a PE ratio of 27.18 and a beta of 1.08. The stock’s 50 day simple moving average is $161.05 and its two-hundred day simple moving average is $148.33. First Trust NASDAQ-100 Equal Weighted Index Fund has a 52-week low of $122.38 and a 52-week high of $167.26.

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.