First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) Trading Down 2.1% - Here's What Happened

Key Points

• Shares of First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) fell 2.1% to $130.37 on Thursday, trading as low as $130.25, with volume up 36% to 70,827 shares versus the 52,242 average.
• The fund has a market cap of $1.71 billion and a P/E of 27.18, and is trading below both its 50-day ($137.25) and 200-day ($139.67) simple moving averages.
• Several institutional investors made modest increases to their stakes recently, and QQEW — launched in 2006 and managed by First Trust — tracks an equal-weighted NASDAQ-100.

Shares of First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW - ) traded down 2.1% on Thursday . The company traded as low as $130.25 and last traded at $130.37. 70,827 shares changed hands during trading, an increase of 36% from the average session volume of 52,242 shares. The stock had previously closed at $133.11.

First Trust NASDAQ-100 Equal Weighted Index Fund Stock Performance

The stock has a market cap of $1.71 billion, a P/E ratio of 27.18 and a beta of 1.08. The company has a 50-day simple moving average of $137.25 and a 200-day simple moving average of $139.67.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Moneta Group Investment Advisors LLC lifted its holdings in First Trust NASDAQ-100 Equal Weighted Index Fund by 2.2% during the 3rd quarter. Moneta Group Investment Advisors LLC now owns 3,437 shares of the company's stock worth $485,000 after purchasing an additional 74 shares during the last quarter. Silver Oak Securities Incorporated increased its stake in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 3.0% in the 3rd quarter. Silver Oak Securities Incorporated now owns 2,550 shares of the company's stock valued at $360,000 after purchasing an additional 75 shares during the last quarter. Smith Moore & CO. boosted its position in First Trust NASDAQ-100 Equal Weighted Index Fund by 4.5% in the fourth quarter. Smith Moore & CO. now owns 1,871 shares of the company's stock valued at $266,000 after buying an additional 81 shares in the last quarter. Per Stirling Capital Management LLC. boosted its holdings in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 2.2% during the 2nd quarter. Per Stirling Capital Management LLC. now owns 3,797 shares of the company's stock valued at $518,000 after acquiring an additional 83 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 1.6% during the fourth quarter. Janney Montgomery Scott LLC now owns 5,760 shares of the company's stock valued at $819,000 after purchasing an additional 88 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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