First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) Trading Down 0.1% - Here's What Happened

First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW - Get Free Report) shares dropped 0.1% during mid-day trading on Thursday . The company traded as low as $139.00 and last traded at $139.08. Approximately 35,219 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 80,825 shares. The stock had previously closed at $139.25.

First Trust NASDAQ-100 Equal Weighted Index Fund Trading Up 0.4%

The firm's fifty day simple moving average is $134.24 and its two-hundred day simple moving average is $128.15. The company has a market capitalization of $1.93 billion, a price-to-earnings 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 Monday, June 30th. Shareholders of record on Thursday, June 26th were paid a dividend of $0.13 per share. The ex-dividend date was Thursday, June 26th. This represents a $0.52 dividend on an annualized basis and a yield of 0.37%.

Institutional Investors Weigh In On First Trust NASDAQ-100 Equal Weighted Index Fund

A number of hedge funds have recently added to or reduced their stakes in QQEW. Virtus Wealth Solutions LLC purchased a new position in First Trust NASDAQ-100 Equal Weighted Index Fund in the fourth quarter worth approximately $11,223,000. GGM Financials LLC acquired a new position in shares of First Trust NASDAQ-100 Equal Weighted Index Fund during the second quarter worth $11,946,000. Gratus Wealth Advisors LLC raised its stake in First Trust NASDAQ-100 Equal Weighted Index Fund by 35.6% in the first quarter. Gratus Wealth Advisors LLC now owns 262,357 shares of the company's stock valued at $31,727,000 after buying an additional 68,853 shares in the last quarter. Royal Bank of Canada lifted its holdings in First Trust NASDAQ-100 Equal Weighted Index Fund by 22.9% during the 4th quarter. Royal Bank of Canada now owns 285,192 shares of the company's stock worth $35,638,000 after buying an additional 53,231 shares during the last quarter. Finally, Stenger Family Office LLC acquired a new position in shares of First Trust NASDAQ-100 Equal Weighted Index Fund during the 4th quarter worth about $5,019,000.

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.