First Trust NASDAQ 100 Equal Weighted Index Fund (NASDAQ:QQEW) Sees Strong Trading Volume – Still a Buy?

Shares of First Trust NASDAQ 100 Equal Weighted Index Fund (NASDAQ:QQEW) saw an uptick in trading volume on Monday . 35,659 shares were traded during trading, a decline of 28% from the previous session’s volume of 49,403 shares.The stock last traded at $123.75 and had previously closed at $124.78.

First Trust NASDAQ 100 Equal Weighted Index Fund Price Performance

The stock has a market capitalization of $1.85 billion, a P/E ratio of 30.27 and a beta of 1.05. The firm has a 50 day moving average of $128.94 and a 200-day moving average of $125.37.

First Trust NASDAQ 100 Equal Weighted Index Fund Cuts Dividend

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

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

Institutional investors have recently added to or reduced their stakes in the stock. CX Institutional boosted its holdings in First Trust NASDAQ 100 Equal Weighted Index Fund by 6.7% during the third quarter. CX Institutional now owns 46,765 shares of the company’s stock valued at $5,867,000 after purchasing an additional 2,924 shares in the last quarter. Park Avenue Securities LLC acquired a new stake in First Trust NASDAQ 100 Equal Weighted Index Fund during the third quarter valued at approximately $222,000. Gratus Wealth Advisors LLC boosted its holdings in First Trust NASDAQ 100 Equal Weighted Index Fund by 1.9% during the third quarter. Gratus Wealth Advisors LLC now owns 192,234 shares of the company’s stock valued at $23,924,000 after purchasing an additional 3,579 shares in the last quarter. Axiom Advisory LLC boosted its holdings in First Trust NASDAQ 100 Equal Weighted Index Fund by 1.6% during the third quarter. Axiom Advisory LLC now owns 35,200 shares of the company’s stock valued at $4,311,000 after purchasing an additional 550 shares in the last quarter. Finally, Davis Investment Partners LLC boosted its holdings in First Trust NASDAQ 100 Equal Weighted Index Fund by 3.9% during the third quarter. Davis Investment Partners LLC now owns 45,686 shares of the company’s stock valued at $5,682,000 after purchasing an additional 1,696 shares in the last quarter.

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.