First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) Shares Up 0.3% - Here's Why

Key Points

• The First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) saw a share price increase of 0.3% during mid-day trading, reaching $136.54, despite a significant decline in volume.
• The fund recently declared a quarterly dividend of $0.13, which equates to an annualized yield of 0.4%.
• Several institutional investors, including Pineridge Advisors LLC and Ameritas Advisory Services LLC, have recently purchased stakes in the fund, indicating growing interest.

First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW - Get Free Report)'s stock price traded up 0.3% during trading on Monday . The company traded as high as $136.59 and last traded at $136.54. 29,001 shares changed hands during trading, a decline of 62% from the average session volume of 75,532 shares. The stock had previously closed at $136.09.

First Trust NASDAQ-100 Equal Weighted Index Fund Trading Down 0.2%

The stock's fifty day moving average is $136.87 and its 200 day moving average is $129.60. The company has a market capitalization of $1.90 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 disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Thursday, June 26th were issued a $0.13 dividend. The ex-dividend date was Thursday, June 26th. This represents a $0.52 annualized dividend and a yield of 0.4%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its holdings in First Trust NASDAQ-100 Equal Weighted Index Fund by 14.9% in the 1st quarter. Royal Bank of Canada now owns 327,810 shares of the company's stock worth $39,642,000 after purchasing an additional 42,618 shares in the last quarter. Gratus Wealth Advisors LLC raised its holdings in First Trust NASDAQ-100 Equal Weighted Index Fund by 0.3% in the 2nd quarter. Gratus Wealth Advisors LLC now owns 263,176 shares of the company's stock worth $35,921,000 after purchasing an additional 819 shares in the last quarter. Good Life Advisors LLC raised its holdings in First Trust NASDAQ-100 Equal Weighted Index Fund by 3.0% in the 2nd quarter. Good Life Advisors LLC now owns 129,137 shares of the company's stock worth $17,626,000 after purchasing an additional 3,754 shares in the last quarter. JP Wealth Management Inc. raised its holdings in First Trust NASDAQ-100 Equal Weighted Index Fund by 5.5% in the 1st quarter. JP Wealth Management Inc. now owns 127,134 shares of the company's stock worth $15,374,000 after purchasing an additional 6,592 shares in the last quarter. Finally, Cetera Investment Advisers raised its holdings in First Trust NASDAQ-100 Equal Weighted Index Fund by 7.4% in the 1st quarter. Cetera Investment Advisers now owns 110,051 shares of the company's stock worth $13,309,000 after purchasing an additional 7,626 shares in the last quarter.

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.