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

Key Points

• First Trust NASDAQ-100 Equal Weighted Index Fund (QQEW) reached a new 12-month high at $144.27, with last traded shares at $144.18 and a trading volume of 7,231 shares.
• The fund declared a quarterly dividend of $0.1077, reflecting an annualized dividend yield of 0.3%.
• Multiple hedge funds have altered their positions in QQEW, with Farther Finance Advisors LLC increasing its stake by 149.3% in the last quarter.

Shares of First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW - ) hit a new 52-week high on Tuesday . The company traded as high as $144.27 and last traded at $144.18, with a volume of 7231 shares trading hands. The stock had previously closed at $143.44.

First Trust NASDAQ-100 Equal Weighted Index Fund Stock Performance

The company's 50-day simple moving average is $138.74 and its 200 day simple moving average is $132.83. The company has a market cap of $1.92 billion, a PE ratio of 27.18 and a beta of 1.05.

First Trust NASDAQ-100 Equal Weighted Index Fund Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Thursday, September 25th were given a $0.1077 dividend. The ex-dividend date of this dividend was Thursday, September 25th. This represents a $0.43 dividend on an annualized basis and a yield of 0.3%.

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

Several hedge funds have recently added to or reduced their stakes in the company. Pineridge Advisors LLC acquired a new position in First Trust NASDAQ-100 Equal Weighted Index Fund during the 1st quarter worth approximately $32,000. MTM Investment Management LLC purchased a new stake in shares of First Trust NASDAQ-100 Equal Weighted Index Fund during the 2nd quarter worth $41,000. Farther Finance Advisors LLC grew its stake in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 149.3% during the third quarter. Farther Finance Advisors LLC now owns 334 shares of the company's stock worth $47,000 after purchasing an additional 200 shares in the last quarter. Hughes Financial Services LLC purchased a new position in First Trust NASDAQ-100 Equal Weighted Index Fund in the first quarter valued at $66,000. Finally, Ameritas Advisory Services LLC acquired a new stake in First Trust NASDAQ-100 Equal Weighted Index Fund in the second quarter valued at $74,000.

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.

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