First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) Sees Unusually-High Trading Volume - Should You Buy?

Key Points

• The First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) experienced a significant trading spike with approximately 322,205 shares traded, representing a 334% increase from the previous volume.
• The fund recently declared a quarterly dividend of $0.1077 per share, resulting in an annualized dividend of $0.43 and a yield of 0.3%.
• Multiple institutional investors, including Pineridge Advisors LLC and Elevation Point Wealth Partners LLC, have recently increased their stakes in the fund, showing growing interest in QQEW.

First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW - ) saw unusually-high trading volume on Friday . Approximately 322,205 shares changed hands during mid-day trading, an increase of 334% from the previous session's volume of 74,171 shares.The stock last traded at $140.38 and had previously closed at $142.97.

First Trust NASDAQ-100 Equal Weighted Index Fund Price Performance

The firm has a fifty day moving average price of $137.98 and a two-hundred day moving average price of $131.69. The stock has a market capitalization of $1.89 billion, a PE ratio of 27.18 and a beta of 1.05.

First Trust NASDAQ-100 Equal Weighted Index Fund Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Thursday, September 25th were issued a $0.1077 dividend. This represents a $0.43 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Thursday, September 25th.

Institutional Investors 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. Pineridge Advisors LLC purchased a new stake in shares of First Trust NASDAQ-100 Equal Weighted Index Fund in the first quarter worth approximately $32,000. MTM Investment Management LLC purchased a new position in First Trust NASDAQ-100 Equal Weighted Index Fund during the 2nd quarter worth $41,000. Hughes Financial Services LLC purchased a new position in First Trust NASDAQ-100 Equal Weighted Index Fund during the 1st quarter worth $66,000. Ameritas Advisory Services LLC purchased a new position in First Trust NASDAQ-100 Equal Weighted Index Fund during the 2nd quarter worth $74,000. Finally, Elevation Point Wealth Partners LLC purchased a new position in First Trust NASDAQ-100 Equal Weighted Index Fund during the 2nd quarter worth $85,000.

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.

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