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

Shares of First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $137.05 and last traded at $136.88, with a volume of 18916 shares changing hands. The stock had previously closed at $136.54.

First Trust NASDAQ-100 Equal Weighted Index Fund Trading Up 1.1%

The business's fifty day simple moving average is $130.42 and its 200 day simple moving average is $127.01. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of 27.96 and a beta of 1.05.

First Trust NASDAQ-100 Equal Weighted Index Fund Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Thursday, June 26th were given a dividend of $0.13 per share. The ex-dividend date was 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

Hedge funds have recently modified their holdings of the company. Jones Financial Companies Lllp increased its stake in First Trust NASDAQ-100 Equal Weighted Index Fund by 72.4% in the fourth quarter. Jones Financial Companies Lllp now owns 14,175 shares of the company's stock valued at $1,771,000 after purchasing an additional 5,955 shares in the last quarter. Assetmark Inc. grew its holdings in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 89.0% in the 4th quarter. Assetmark Inc. now owns 926 shares of the company's stock valued at $116,000 after buying an additional 436 shares during the period. Raymond James Financial Inc. bought a new stake in shares of First Trust NASDAQ-100 Equal Weighted Index Fund in the 4th quarter valued at $119,160,000. Vestmark Advisory Solutions Inc. raised its stake in First Trust NASDAQ-100 Equal Weighted Index Fund by 1.0% during the 4th quarter. Vestmark Advisory Solutions Inc. now owns 37,490 shares of the company's stock worth $4,685,000 after buying an additional 379 shares during the period. Finally, PNC Financial Services Group Inc. raised its stake in First Trust NASDAQ-100 Equal Weighted Index Fund by 6.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 40,375 shares of the company's stock worth $5,045,000 after buying an additional 2,389 shares during the period.

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.