First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) Stock Price Up 0.5% - Here's Why

Key Points

• The First Trust NASDAQ-100 Equal Weighted Index Fund (QQEW) saw its stock price increase by 0.5%, trading at $144.20 on Tuesday.
• The fund recently announced a quarterly dividend of $0.1077 per share, translating to an annual yield of 0.3%.
• Several institutional investors, including the Royal Bank of Canada, have recently increased their holdings in QQEW, indicating a positive outlook on the Fund.

Shares of First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW - ) rose 0.5% during trading on Tuesday . The company traded as high as $144.40 and last traded at $144.20. Approximately 28,983 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 73,653 shares. The stock had previously closed at $143.44.

First Trust NASDAQ-100 Equal Weighted Index Fund Price Performance

The stock has a 50-day moving average of $138.89 and a 200 day moving average of $132.91. The stock 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 business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Thursday, September 25th were given a dividend of $0.1077 per share. This represents a $0.43 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Thursday, September 25th.

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

Several institutional investors have recently modified their holdings of the stock. Royal Bank of Canada lifted its holdings in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 14.9% during the 1st quarter. Royal Bank of Canada now owns 327,810 shares of the company's stock valued at $39,642,000 after purchasing an additional 42,618 shares in the last quarter. Gratus Wealth Advisors LLC lifted its holdings in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 0.3% during the 2nd quarter. Gratus Wealth Advisors LLC now owns 263,176 shares of the company's stock valued at $35,921,000 after purchasing an additional 819 shares in the last quarter. Good Life Advisors LLC lifted its holdings in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 3.0% during the 2nd quarter. Good Life Advisors LLC now owns 129,137 shares of the company's stock valued at $17,626,000 after purchasing an additional 3,754 shares in the last quarter. Cetera Investment Advisers lifted its holdings in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 7.4% during the 1st quarter. Cetera Investment Advisers now owns 110,051 shares of the company's stock valued at $13,309,000 after purchasing an additional 7,626 shares in the last quarter. Finally, Kestra Advisory Services LLC lifted its holdings in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 14.7% during the 1st quarter. Kestra Advisory Services LLC now owns 100,455 shares of the company's stock valued at $12,148,000 after purchasing an additional 12,905 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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