Short Interest in First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) Drops By 22.6%

Key Points

• Short interest in the First Trust NASDAQ-100 Equal Weighted Index Fund (QQEW) declined by 22.6% in August, reducing the total to 48,200 shares from 62,300 as of July 31st.
• The dividend for QQEW has been cut, with the most recent quarterly payment at $0.13 per share, reflecting an annualized yield of 0.4%.
• Several institutional investors have increased their stakes in QQEW, including Royal Bank of Canada, which raised its holdings by 22.9%.

First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW - ) saw a large decrease in short interest in the month of August. As of August 15th, there was short interest totaling 48,200 shares, adecreaseof22.6% from the July 31st total of 62,300 shares. Based on an average trading volume of 50,900 shares, the days-to-cover ratio is presently 0.9 days. Based on an average trading volume of 50,900 shares, the days-to-cover ratio is presently 0.9 days.

First Trust NASDAQ-100 Equal Weighted Index Fund Price Performance

Shares of QQEW stock opened at $136.54 on Tuesday. The stock has a market capitalization of $1.88 billion, a PE ratio of 27.18 and a beta of 1.05. First Trust NASDAQ-100 Equal Weighted Index Fund has a 1-year low of $104.28 and a 1-year high of $140.24. The business has a 50-day moving average of $136.93 and a 200 day moving average of $129.41.

First Trust NASDAQ-100 Equal Weighted Index Fund Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Thursday, June 26th were issued a dividend of $0.13 per share. The ex-dividend date was Thursday, June 26th. This represents a $0.52 annualized dividend and a yield of 0.4%.

Institutional Investors Weigh In On First Trust NASDAQ-100 Equal Weighted Index Fund

Several institutional investors have recently bought and sold shares of QQEW. Barclays PLC purchased a new stake in First Trust NASDAQ-100 Equal Weighted Index Fund in the 4th quarter worth approximately $50,000. Royal Bank of Canada lifted its holdings in First Trust NASDAQ-100 Equal Weighted Index Fund by 22.9% in the 4th quarter. Royal Bank of Canada now owns 285,192 shares of the company's stock worth $35,638,000 after buying an additional 53,231 shares during the period. Snowden Capital Advisors LLC lifted its holdings in First Trust NASDAQ-100 Equal Weighted Index Fund by 11.6% in the 4th quarter. Snowden Capital Advisors LLC now owns 3,848 shares of the company's stock worth $481,000 after buying an additional 400 shares during the period. Novem Group purchased a new stake in First Trust NASDAQ-100 Equal Weighted Index Fund in the 4th quarter worth approximately $695,000. Finally, GTS Securities LLC lifted its holdings in First Trust NASDAQ-100 Equal Weighted Index Fund by 56.6% in the 4th quarter. GTS Securities LLC now owns 72,445 shares of the company's stock worth $9,041,000 after buying an additional 26,179 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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