First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) Sees Large Decline in Short Interest

First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW - Get Free Report) was the target of a large decrease in short interest in May. As of May 31st, there was short interest totalling 40,800 shares, a decrease of 70.3% from the May 15th total of 137,200 shares. Approximately 0.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 102,300 shares, the short-interest ratio is presently 0.4 days.

First Trust NASDAQ-100 Equal Weighted Index Fund Stock Up 1.4%

QQEW stock traded up $1.78 during trading on Monday, reaching $133.63. The company's stock had a trading volume of 25,763 shares, compared to its average volume of 88,693. First Trust NASDAQ-100 Equal Weighted Index Fund has a 1 year low of $104.28 and a 1 year high of $136.19. The company has a market capitalization of $1.90 billion, a P/E ratio of 26.66 and a beta of 1.05. The company's fifty day moving average is $125.54 and its 200-day moving average is $126.72.

First Trust NASDAQ-100 Equal Weighted Index Fund Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 27th were given a dividend of $0.1529 per share. This is a positive change from First Trust NASDAQ-100 Equal Weighted Index Fund's previous quarterly dividend of $0.13. The ex-dividend date was Thursday, March 27th. This represents a $0.61 dividend on an annualized basis and a dividend yield of 0.46%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Jones Financial Companies Lllp grew its position in First Trust NASDAQ-100 Equal Weighted Index Fund by 72.4% in the fourth quarter. Jones Financial Companies Lllp now owns 14,175 shares of the company's stock worth $1,771,000 after acquiring an additional 5,955 shares in the last quarter. SRS Capital Advisors Inc. raised its stake in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 136.5% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,608 shares of the company's stock valued at $201,000 after acquiring an additional 928 shares in the last quarter. Kovack Advisors Inc. bought a new stake in shares of First Trust NASDAQ-100 Equal Weighted Index Fund during the fourth quarter valued at approximately $296,000. Whipplewood Advisors LLC bought a new stake in shares of First Trust NASDAQ-100 Equal Weighted Index Fund during the fourth quarter valued at approximately $83,000. Finally, Sigma Planning Corp raised its stake in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 79.4% during the fourth quarter. Sigma Planning Corp now owns 4,276 shares of the company's stock valued at $534,000 after acquiring an additional 1,893 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.