First Trust NASDAQ 100 Equal Weighted Index Fund (NASDAQ:QQEW) Sets New 52-Week High – Time to Buy?

First Trust NASDAQ 100 Equal Weighted Index Fund (NASDAQ:QQEW) shares reached a new 52-week high on Wednesday . The stock traded as high as $128.97 and last traded at $128.97, with a volume of 35693 shares trading hands. The stock had previously closed at $125.98.

First Trust NASDAQ 100 Equal Weighted Index Fund Stock Up 2.4 %

The firm has a 50-day moving average price of $124.57 and a two-hundred day moving average price of $122.78. The company has a market capitalization of $1.98 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 announced 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 dividend on an annualized basis and a dividend yield of 0.40%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of QQEW. Manchester Capital Management LLC raised its stake in shares of First Trust NASDAQ 100 Equal Weighted Index Fund by 10.0% in the first quarter. Manchester Capital Management LLC now owns 1,100 shares of the company’s stock valued at $136,000 after purchasing an additional 100 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in shares of First Trust NASDAQ 100 Equal Weighted Index Fund by 6.3% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 2,623 shares of the company’s stock valued at $325,000 after purchasing an additional 156 shares in the last quarter. Cozad Asset Management Inc. raised its stake in First Trust NASDAQ 100 Equal Weighted Index Fund by 3.8% during the first quarter. Cozad Asset Management Inc. now owns 25,470 shares of the company’s stock worth $3,156,000 after acquiring an additional 926 shares in the last quarter. Gratus Wealth Advisors LLC raised its stake in First Trust NASDAQ 100 Equal Weighted Index Fund by 359.4% during the first quarter. Gratus Wealth Advisors LLC now owns 190,995 shares of the company’s stock worth $22,157,000 after acquiring an additional 149,416 shares in the last quarter. Finally, Econ Financial Services Corp acquired a new position in First Trust NASDAQ 100 Equal Weighted Index Fund during the first quarter worth $507,000.

First Trust NASDAQ 100 Equal Weighted Index Fund Company Profile

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.