First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) Stock Short Interest Report for September

Key Points

• Short interest plunged 79.1% in September to 12,227 shares from 58,528 shares, representing about 0.1% of QQEW’s shares outstanding and a short-interest ratio of 0.3 days.
• Institutional ownership increased, led by Corient Private Wealth LP, which raised its stake by 2,056.3% to 85,194 shares; several other firms also initiated or expanded positions.
• QQEW recently traded at $163.87, near its 12-month high of $167.26, with a $1.92 billion market capitalization and a 27.18 P/E ratio.

First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW - ) was the recipient of a large drop in short interest during the month of September. As of September 30th, there was short interest totaling 12,227 shares, a drop of 79.1% from the September 15th total of 58,528 shares. Based on an average daily trading volume, of 44,303 shares, the short-interest ratio is currently 0.3 days. Approximately 0.1% of the shares of the company are sold short.

Institutional Trading of First Trust NASDAQ-100 Equal Weighted Index Fund

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Corient Private Wealth LP increased its stake in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 2,056.3% during the second quarter. Corient Private Wealth LP now owns 85,194 shares of the company's stock worth $13,597,000 after acquiring an additional 81,243 shares during the period. Stenger Family Office LLC acquired a new stake in First Trust NASDAQ-100 Equal Weighted Index Fund in the first quarter valued at about $4,703,000. Independent Financial Group LLC acquired a new stake in First Trust NASDAQ-100 Equal Weighted Index Fund in the first quarter valued at about $2,478,000. Rockefeller Capital Management L.P. lifted its position in First Trust NASDAQ-100 Equal Weighted Index Fund by 61.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 40,516 shares of the company's stock valued at $5,759,000 after purchasing an additional 15,375 shares during the period. Finally, Hershey Financial Advisers LLC purchased a new stake in First Trust NASDAQ-100 Equal Weighted Index Fund in the 1st quarter valued at approximately $1,612,000.

First Trust NASDAQ-100 Equal Weighted Index Fund Stock Performance

QQEW traded up $1.00 during trading on Friday, hitting $163.87. The stock had a trading volume of 31,450 shares, compared to its average volume of 49,254. The firm has a market capitalization of $1.92 billion, a P/E ratio of 27.18 and a beta of 1.08. The company's 50-day moving average price is $162.26 and its 200 day moving average price is $151.95. First Trust NASDAQ-100 Equal Weighted Index Fund has a twelve month low of $122.38 and a twelve month high of $167.26.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.