First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) Shares Down 0.3% - What's Next?

Key Points

• First Trust NASDAQ-100 Equal Weighted Index Fund (QQEW) shares fell by 0.3%, closing at $136.45 with a significant drop in trading volume, indicating a potential lack of investor interest.
• The fund recently declared a quarterly dividend of $0.13 per share, translating to an annualized dividend yield of 0.4%, reflecting a cautious approach during uncertain market conditions.
• Several hedge funds, including Royal Bank of Canada, have increased their stakes in QQEW, suggesting that large investors are still optimistic about the fund's prospects despite recent fluctuations.

First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW - )'s share price traded down 0.3% during trading on Friday . The company traded as low as $136.33 and last traded at $136.45. 41,938 shares traded hands during mid-day trading, a decline of 46% from the average session volume of 78,062 shares. The stock had previously closed at $136.82.

First Trust NASDAQ-100 Equal Weighted Index Fund Price Performance

The stock has a fifty day moving average price of $136.13 and a 200 day moving average price of $129.11. The stock has a market capitalization of $1.88 billion, a P/E 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 Monday, June 30th. Stockholders of record on Thursday, June 26th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Thursday, June 26th.

Hedge Funds Weigh In On First Trust NASDAQ-100 Equal Weighted Index Fund

A number of large investors have recently made changes to their positions in QQEW. Royal Bank of Canada boosted its stake in 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 valued at $39,642,000 after buying an additional 42,618 shares during the period. Gratus Wealth Advisors LLC boosted its stake in First Trust NASDAQ-100 Equal Weighted Index Fund by 0.3% during the second quarter. Gratus Wealth Advisors LLC now owns 263,176 shares of the company's stock valued at $35,921,000 after buying an additional 819 shares during the period. Stifel Financial Corp boosted its stake in First Trust NASDAQ-100 Equal Weighted Index Fund by 5.6% during the fourth quarter. Stifel Financial Corp now owns 141,390 shares of the company's stock valued at $17,671,000 after buying an additional 7,518 shares during the period. Good Life Advisors LLC boosted its stake in First Trust NASDAQ-100 Equal Weighted Index Fund by 3.0% during the second quarter. Good Life Advisors LLC now owns 129,137 shares of the company's stock valued at $17,626,000 after buying an additional 3,754 shares during the period. Finally, JP Wealth Management Inc. boosted its stake in First Trust NASDAQ-100 Equal Weighted Index Fund by 5.5% during the first quarter. JP Wealth Management Inc. now owns 127,134 shares of the company's stock valued at $15,374,000 after buying an additional 6,592 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.

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