First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) Sees Strong Trading Volume - What's Next?

Key Points

• QQEW trading volume surged 112% to approximately 101,441 shares, compared with an average daily volume of 47,901 shares. The fund traded at $151.71, down from its prior close of $156.42.
• The ETF has a market capitalization of approximately $1.76 billion, a price-to-earnings ratio of 27.18, and a beta of 1.08. Its 50-day moving average is $160.80, while its 200-day moving average is $148.47.
• Institutional interest increased in the third quarter, highlighted by International Assets Investment Management’s 1,709.6% stake increase and new positions acquired by Shakespeare Wealth Management and D.A. Davidson.

First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW - ) saw unusually-strong trading volume on Friday. Approximately 101,441 shares changed hands during mid-day trading, an increase of 112% from the average daily volume of 47,901 shares. The stock last traded at $151.71 and had previously closed at $156.42.

First Trust NASDAQ-100 Equal Weighted Index Fund Stock Performance

The firm has a market cap of $1.76 billion, a price-to-earnings ratio of 27.18 and a beta of 1.08. The company has a 50 day moving average price of $160.80 and a 200 day moving average price of $148.47.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Vise Technologies Inc. boosted its stake in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 4.5% in the third quarter. Vise Technologies Inc. now owns 22,529 shares of the company's stock valued at $3,666,000 after purchasing an additional 971 shares during the period. International Assets Investment Management LLC grew its holdings in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 1,709.6% in the third quarter. International Assets Investment Management LLC now owns 125,443 shares of the company's stock valued at $20,413,000 after purchasing an additional 118,511 shares in the last quarter. Shakespeare Wealth Management LLC acquired a new position in shares of First Trust NASDAQ-100 Equal Weighted Index Fund in the third quarter valued at approximately $5,465,000. D.A. Davidson & CO. purchased a new stake in First Trust NASDAQ-100 Equal Weighted Index Fund during the 3rd quarter worth approximately $3,486,000. Finally, Ashton Thomas Securities LLC increased its stake in First Trust NASDAQ-100 Equal Weighted Index Fund by 3.4% during the 3rd quarter. Ashton Thomas Securities LLC now owns 12,042 shares of the company's stock worth $1,960,000 after buying an additional 400 shares during the period.

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.

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