First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) Reaches New 12-Month High - Still a Buy?

Shares of First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW - Get Free Report) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $136.19 and last traded at $136.19, with a volume of 2780 shares trading hands. The stock had previously closed at $135.21.

First Trust NASDAQ-100 Equal Weighted Index Fund Stock Up 0.7%

The firm's 50-day moving average price is $128.72 and its 200 day moving average price is $126.79. The firm has a market cap of $1.94 billion, a P/E ratio of 27.96 and a beta of 1.05.

First Trust NASDAQ-100 Equal Weighted Index Fund Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Thursday, June 26th will be given a dividend of $0.13 per share. The ex-dividend date is Thursday, June 26th. This represents a $0.52 annualized dividend and a dividend yield of 0.38%.

Institutional Trading of First Trust NASDAQ-100 Equal Weighted Index Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Inc. bought a new position in shares of First Trust NASDAQ-100 Equal Weighted Index Fund in the fourth quarter valued at $119,160,000. LPL Financial LLC grew its holdings in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 12.2% in the 4th quarter. LPL Financial LLC now owns 856,301 shares of the company's stock worth $107,003,000 after acquiring an additional 92,847 shares during the last quarter. Royal Bank of Canada raised its position in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 14.9% during the first quarter. Royal Bank of Canada now owns 327,810 shares of the company's stock worth $39,642,000 after purchasing an additional 42,618 shares during the period. Gratus Wealth Advisors LLC lifted its holdings in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 35.6% during the first quarter. Gratus Wealth Advisors LLC now owns 262,357 shares of the company's stock valued at $31,727,000 after purchasing an additional 68,853 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its position in First Trust NASDAQ-100 Equal Weighted Index Fund by 19.3% during the 4th quarter. Commonwealth Equity Services LLC now owns 193,207 shares of the company's stock worth $24,143,000 after purchasing an additional 31,219 shares in the last quarter.

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.