First Trust NASDAQ 100 Equal Weighted Index Fund (NASDAQ:QQEW) Sees Strong Trading Volume

Shares of First Trust NASDAQ 100 Equal Weighted Index Fund (NASDAQ:QQEW) saw unusually-high trading volume on Monday . Approximately 149,439 shares were traded during trading, an increase of 30% from the previous session’s volume of 114,558 shares.The stock last traded at $122.93 and had previously closed at $123.29.

First Trust NASDAQ 100 Equal Weighted Index Fund Stock Down 0.4 %

The company has a 50 day moving average of $121.38 and a 200-day moving average of $120.43. The stock has a market capitalization of $2.17 billion, a P/E ratio of 30.27 and a beta of 1.05.

First Trust NASDAQ 100 Equal Weighted Index Fund Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Thursday, June 27th were paid a dividend of $0.2243 per share. This represents a $0.90 annualized dividend and a yield of 0.73%. The ex-dividend date was Thursday, June 27th.

Institutional Investors Weigh In On First Trust NASDAQ 100 Equal Weighted Index Fund

Several large investors have recently added to or reduced their stakes in QQEW. Truist Financial Corp increased its position in First Trust NASDAQ 100 Equal Weighted Index Fund by 38.0% in the third quarter. Truist Financial Corp now owns 162,617 shares of the company’s stock worth $16,911,000 after buying an additional 44,809 shares during the period. Baker Avenue Asset Management LP increased its holdings in shares of First Trust NASDAQ 100 Equal Weighted Index Fund by 6.4% during the third quarter. Baker Avenue Asset Management LP now owns 19,698 shares of the company’s stock valued at $2,048,000 after purchasing an additional 1,190 shares during the period. Dana Investment Advisors Inc. increased its holdings in shares of First Trust NASDAQ 100 Equal Weighted Index Fund by 45.5% during the third quarter. Dana Investment Advisors Inc. now owns 19,329 shares of the company’s stock valued at $2,010,000 after purchasing an additional 6,041 shares during the period. Wolverine Trading LLC acquired a new position in shares of First Trust NASDAQ 100 Equal Weighted Index Fund during the third quarter valued at $1,785,000. Finally, Horizon Family Wealth Inc. acquired a new position in shares of First Trust NASDAQ 100 Equal Weighted Index Fund during the third quarter valued at $784,000.

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.