First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) Sees Strong Trading Volume – What’s Next?

First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) shares saw unusually-strong trading volume on Monday . Approximately 41,215 shares were traded during mid-day trading, a decline of 23% from the previous session’s volume of 53,247 shares.The stock last traded at $128.3790 and had previously closed at $127.58.

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

The firm has a market cap of $1.58 billion, a PE ratio of 27.18 and a beta of 1.08. The business has a 50-day moving average price of $132.86 and a two-hundred day moving average price of $138.82.

First Trust NASDAQ-100 Equal Weighted Index Fund Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Thursday, March 26th were issued a dividend of $0.0204 per share. The ex-dividend date was Thursday, March 26th. This represents a $0.08 annualized dividend and a yield of 0.1%.

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

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. WealthBridge Capital Management LLC lifted its stake in First Trust NASDAQ-100 Equal Weighted Index Fund by 7.2% in the fourth quarter. WealthBridge Capital Management LLC now owns 21,845 shares of the company’s stock worth $3,105,000 after acquiring an additional 1,468 shares during the last quarter. Stratos Wealth Partners LTD. increased its position in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 9.0% in the 4th quarter. Stratos Wealth Partners LTD. now owns 14,096 shares of the company’s stock valued at $2,003,000 after purchasing an additional 1,169 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 1.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 10,960 shares of the company’s stock valued at $1,597,000 after purchasing an additional 195 shares in the last quarter. Marshall Investment Management LLC lifted its position in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 105.2% during the 3rd quarter. Marshall Investment Management LLC now owns 16,204 shares of the company’s stock worth $2,287,000 after purchasing an additional 8,307 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in shares of First Trust NASDAQ-100 Equal Weighted Index Fund during the 3rd quarter worth $317,000.

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.