First Trust NASDAQ 100 Equal Weighted Index Fund (NASDAQ:QQEW) Sees Significant Growth in Short Interest

First Trust NASDAQ 100 Equal Weighted Index Fund (NASDAQ:QQEW) was the recipient of a large growth in short interest in August. As of August 31st, there was short interest totalling 71,100 shares, a growth of 30.7% from the August 15th total of 54,400 shares. Based on an average daily volume of 76,000 shares, the days-to-cover ratio is currently 0.9 days.

First Trust NASDAQ 100 Equal Weighted Index Fund Trading Up 0.1 %

QQEW traded up $0.09 on Monday, hitting $123.10. 52,149 shares of the company were exchanged, compared to its average volume of 101,666. First Trust NASDAQ 100 Equal Weighted Index Fund has a twelve month low of $97.55 and a twelve month high of $127.83. The company has a market cap of $2.02 billion, a price-to-earnings ratio of 30.27 and a beta of 1.05. The firm has a 50-day moving average price of $121.95 and a two-hundred day moving average price of $121.80.

First Trust NASDAQ 100 Equal Weighted Index Fund Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Thursday, June 27th were paid a dividend of $0.2243 per share. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $0.90 annualized dividend and a yield of 0.73%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of QQEW. Wells Fargo & Company MN lifted its holdings in First Trust NASDAQ 100 Equal Weighted Index Fund by 22.4% during the 4th quarter. Wells Fargo & Company MN now owns 1,466,469 shares of the company’s stock worth $172,237,000 after buying an additional 268,754 shares during the last quarter. Raymond James & Associates lifted its holdings in First Trust NASDAQ 100 Equal Weighted Index Fund by 10.1% during the 2nd quarter. Raymond James & Associates now owns 782,719 shares of the company’s stock worth $96,501,000 after buying an additional 71,497 shares during the last quarter. Atlas Private Wealth Advisors lifted its holdings in shares of First Trust NASDAQ 100 Equal Weighted Index Fund by 109.1% in the 2nd quarter. Atlas Private Wealth Advisors now owns 232,821 shares of the company’s stock valued at $28,711,000 after purchasing an additional 121,483 shares during the last quarter. Gratus Wealth Advisors LLC lifted its holdings in shares of First Trust NASDAQ 100 Equal Weighted Index Fund by 359.4% in the 1st quarter. Gratus Wealth Advisors LLC now owns 190,995 shares of the company’s stock valued at $22,157,000 after purchasing an additional 149,416 shares during the last quarter. Finally, Stifel Financial Corp lifted its holdings in shares of First Trust NASDAQ 100 Equal Weighted Index Fund by 1.7% in the 4th quarter. Stifel Financial Corp now owns 152,254 shares of the company’s stock valued at $17,883,000 after purchasing an additional 2,582 shares during 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.