First Trust NASDAQ 100 Equal Weighted Index Fund (NASDAQ:QQEW) Trading 1.5% Higher – Still a Buy?

First Trust NASDAQ 100 Equal Weighted Index Fund (NASDAQ:QQEW) shares shot up 1.5% during trading on Friday . The stock traded as high as $127.21 and last traded at $126.88. 24,521 shares changed hands during trading, a decline of 53% from the average session volume of 52,211 shares. The stock had previously closed at $124.96.

First Trust NASDAQ 100 Equal Weighted Index Fund Price Performance

The stock has a 50 day moving average price of $128.85 and a two-hundred day moving average price of $125.27. The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of 30.27 and a beta of 1.05.

First Trust NASDAQ 100 Equal Weighted Index Fund Cuts Dividend

The business also recently announced a dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were issued a $0.1439 dividend. The ex-dividend date was Friday, December 13th.

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

Several institutional investors have recently modified their holdings of the company. Good Life Advisors LLC raised its holdings in First Trust NASDAQ 100 Equal Weighted Index Fund by 103.6% during the third quarter. Good Life Advisors LLC now owns 245,248 shares of the company’s stock worth $30,767,000 after purchasing an additional 124,783 shares in the last quarter. Darwin Wealth Management LLC purchased a new stake in First Trust NASDAQ 100 Equal Weighted Index Fund in the third quarter valued at $6,552,000. Elios Financial Group Inc. acquired a new position in First Trust NASDAQ 100 Equal Weighted Index Fund in the third quarter valued at $5,750,000. Cetera Investment Advisers grew its holdings in shares of First Trust NASDAQ 100 Equal Weighted Index Fund by 44.9% during the second quarter. Cetera Investment Advisers now owns 103,402 shares of the company’s stock worth $12,749,000 after purchasing an additional 32,038 shares during the last quarter. Finally, Choreo LLC increased its position in shares of First Trust NASDAQ 100 Equal Weighted Index Fund by 176.2% during the second quarter. Choreo LLC now owns 36,362 shares of the company’s stock worth $4,475,000 after purchasing an additional 23,195 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.