First Trust NASDAQ 100 Equal Weighted Index Fund (NASDAQ:QQEW) Hits New 1-Year High – Here’s Why

First Trust NASDAQ 100 Equal Weighted Index Fund (NASDAQ:QQEW) reached a new 52-week high during trading on Monday . The stock traded as high as $132.52 and last traded at $132.47, with a volume of 456 shares trading hands. The stock had previously closed at $130.64.

First Trust NASDAQ 100 Equal Weighted Index Fund Stock Performance

The stock has a market cap of $2.02 billion, a price-to-earnings ratio of 30.27 and a beta of 1.05. The business has a 50-day simple moving average of $126.60 and a two-hundred day simple moving average of $123.82.

First Trust NASDAQ 100 Equal Weighted Index Fund Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 26th were given a $0.1298 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date was Thursday, September 26th.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in QQEW. Good Life Advisors LLC grew its holdings in shares of First Trust NASDAQ 100 Equal Weighted Index Fund by 103.6% in the 3rd quarter. Good Life Advisors LLC now owns 245,248 shares of the company’s stock valued at $30,767,000 after acquiring an additional 124,783 shares in the last quarter. Atlas Private Wealth Advisors boosted 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 buying an additional 121,483 shares during the last quarter. Raymond James & Associates raised its position in First Trust NASDAQ 100 Equal Weighted Index Fund by 10.1% during the second quarter. Raymond James & Associates now owns 782,719 shares of the company’s stock worth $96,501,000 after acquiring an additional 71,497 shares in the last quarter. Cetera Investment Advisers grew its position in shares of First Trust NASDAQ 100 Equal Weighted Index Fund by 384.4% in the 1st quarter. Cetera Investment Advisers now owns 71,364 shares of the company’s stock valued at $8,842,000 after acquiring an additional 56,632 shares during the period. Finally, Darwin Wealth Management LLC acquired a new position in shares of First Trust NASDAQ 100 Equal Weighted Index Fund during the 3rd quarter worth about $6,552,000.

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.