First Trust NASDAQ 100 Equal Weighted Index Fund (NASDAQ:QQEW) Sees Strong Trading Volume – Should You Buy?

Shares of First Trust NASDAQ 100 Equal Weighted Index Fund (NASDAQ:QQEW) saw unusually-high trading volume on Thursday . Approximately 189,722 shares changed hands during mid-day trading, an increase of 105% from the previous session’s volume of 92,441 shares.The stock last traded at $130.00 and had previously closed at $130.40.

First Trust NASDAQ 100 Equal Weighted Index Fund Price Performance

The company has a market cap of $1.99 billion, a P/E ratio of 30.27 and a beta of 1.05. The firm’s 50-day moving average is $125.35 and its two-hundred day moving average is $123.22.

First Trust NASDAQ 100 Equal Weighted Index Fund Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 26th were paid a $0.1298 dividend. The ex-dividend date was Thursday, September 26th. This represents a $0.52 annualized dividend and a yield of 0.40%.

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

Hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC increased its position in First Trust NASDAQ 100 Equal Weighted Index Fund by 12.0% during the 3rd quarter. FMR LLC now owns 3,666 shares of the company’s stock valued at $460,000 after buying an additional 393 shares in the last quarter. Elios Financial Group Inc. acquired a new position in shares of First Trust NASDAQ 100 Equal Weighted Index Fund in the 3rd quarter valued at $5,750,000. Citigroup Inc. raised its holdings in First Trust NASDAQ 100 Equal Weighted Index Fund by 14.8% in the 3rd quarter. Citigroup Inc. now owns 47,259 shares of the company’s stock worth $5,929,000 after purchasing an additional 6,099 shares during the period. Citizens Financial Group Inc. RI acquired a new position in First Trust NASDAQ 100 Equal Weighted Index Fund during the third quarter worth $364,000. Finally, Moors & Cabot Inc. boosted its stake in shares of First Trust NASDAQ 100 Equal Weighted Index Fund by 35.1% in the third quarter. Moors & Cabot Inc. now owns 8,122 shares of the company’s stock worth $1,019,000 after acquiring an additional 2,111 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.