First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) Stock Price Down 1.5% - Should You Sell?

First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW - Get Free Report)'s stock price traded down 1.5% during trading on Friday . The company traded as low as $131.68 and last traded at $131.85. 68,407 shares changed hands during mid-day trading, a decline of 23% from the average session volume of 89,255 shares. The stock had previously closed at $133.90.

First Trust NASDAQ-100 Equal Weighted Index Fund Stock Down 1.5%

The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of 26.66 and a beta of 1.05. The stock's 50-day simple moving average is $125.01 and its 200 day simple moving average is $126.76.

First Trust NASDAQ-100 Equal Weighted Index Fund Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 27th were given a $0.1529 dividend. The ex-dividend date of this dividend was Thursday, March 27th. This is a positive change from First Trust NASDAQ-100 Equal Weighted Index Fund's previous quarterly dividend of $0.13. This represents a $0.61 dividend on an annualized basis and a yield of 0.46%.

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 company. Jones Financial Companies Lllp boosted its position 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 buying an additional 5,955 shares in the last quarter. SRS Capital Advisors Inc. boosted its position in First Trust NASDAQ-100 Equal Weighted Index Fund by 136.5% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,608 shares of the company's stock valued at $201,000 after buying an additional 928 shares in the last quarter. Kovack Advisors Inc. acquired a new position in First Trust NASDAQ-100 Equal Weighted Index Fund in the fourth quarter valued at about $296,000. Whipplewood Advisors LLC acquired a new position in shares of First Trust NASDAQ-100 Equal Weighted Index Fund during the fourth quarter worth approximately $83,000. Finally, Sigma Planning Corp lifted its position in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 79.4% during the fourth quarter. Sigma Planning Corp now owns 4,276 shares of the company's stock worth $534,000 after purchasing an additional 1,893 shares in the last quarter.

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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