First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) Shares Down 0.4% - What's Next?

Key Points

• Shares down 0.4% to $138.04 on Monday, trading as low as $137.83 with volume of ~28,031 shares (down 52% vs. the 58,255 average), and the price sits near its 200-day SMA of $137.95.
• The fund paid a quarterly dividend of $0.0204 per share (annualized $0.08), implying a 0.1% dividend yield.
• Institutional investors are shifting positions: Jane Street raised its stake ~29.1%, BNP Paribas doubled to 100,000 shares, and Darwin Wealth opened a new ~$6.7M position, indicating changing institutional exposure to QQEW.

Shares of First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW - ) dropped 0.4% during trading on Monday . The stock traded as low as $137.83 and last traded at $138.04. Approximately 28,031 shares were traded during trading, a decline of 52% from the average daily volume of 58,255 shares. The stock had previously closed at $138.62.

First Trust NASDAQ-100 Equal Weighted Index Fund Price Performance

The stock's 50 day simple moving average is $131.91 and its two-hundred day simple moving average is $137.95. The stock has a market cap of $1.66 billion, a P/E ratio of 27.18 and a beta of 1.07.

First Trust NASDAQ-100 Equal Weighted Index Fund Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Thursday, March 26th were issued a dividend of $0.0204 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date was Thursday, March 26th.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC increased its holdings in First Trust NASDAQ-100 Equal Weighted Index Fund by 29.1% during the 1st quarter. Jane Street Group LLC now owns 11,232 shares of the company's stock worth $1,358,000 after purchasing an additional 2,531 shares in the last quarter. NewEdge Advisors LLC raised its stake in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 4.7% in the 2nd quarter. NewEdge Advisors LLC now owns 22,598 shares of the company's stock valued at $3,084,000 after purchasing an additional 1,011 shares during the period. Darwin Wealth Management LLC bought a new stake in shares of First Trust NASDAQ-100 Equal Weighted Index Fund in the second quarter valued at about $6,684,000. Ausdal Financial Partners Inc. boosted its position in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 3.6% during the second quarter. Ausdal Financial Partners Inc. now owns 9,719 shares of the company's stock worth $1,327,000 after buying an additional 338 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 100.0% during the second quarter. BNP Paribas Financial Markets now owns 100,000 shares of the company's stock worth $13,649,000 after buying an additional 50,000 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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