First Trust NASDAQ 100 Equal Weighted Index Fund (NASDAQ:QQEW) Sets New 52-Week High – Still a Buy?

First Trust NASDAQ 100 Equal Weighted Index Fund (NASDAQ:QQEW)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $136.14 and last traded at $136.10, with a volume of 47605 shares trading hands. The stock had previously closed at $134.79.

First Trust NASDAQ 100 Equal Weighted Index Fund Trading Up 1.0 %

The stock has a 50 day moving average of $129.36 and a 200-day moving average of $126.78. The company has a market capitalization of $2.00 billion, a P/E ratio of 30.27 and a beta of 1.05.

First Trust NASDAQ 100 Equal Weighted Index Fund Cuts Dividend

The firm also recently declared a dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were paid a $0.1439 dividend. The ex-dividend date was Friday, December 13th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. bought a new position in First Trust NASDAQ 100 Equal Weighted Index Fund in the 4th quarter worth approximately $119,160,000. LPL Financial LLC boosted its stake in First Trust NASDAQ 100 Equal Weighted Index Fund by 12.2% in the 4th quarter. LPL Financial LLC now owns 856,301 shares of the company’s stock worth $107,003,000 after purchasing an additional 92,847 shares during the period. Royal Bank of Canada boosted its stake 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 purchasing an additional 53,231 shares during the period. Gratus Wealth Advisors LLC boosted its stake in First Trust NASDAQ 100 Equal Weighted Index Fund by 0.7% in the 4th quarter. Gratus Wealth Advisors LLC now owns 193,504 shares of the company’s stock worth $24,180,000 after purchasing an additional 1,270 shares during the period. Finally, Commonwealth Equity Services LLC boosted its stake in First Trust NASDAQ 100 Equal Weighted Index Fund by 19.3% in the 4th quarter. Commonwealth Equity Services LLC now owns 193,207 shares of the company’s stock worth $24,143,000 after purchasing an additional 31,219 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.