Short Interest in First Trust NASDAQ 100 Equal Weighted Index Fund (NASDAQ:QQEW) Decreases By 24.3%

First Trust NASDAQ 100 Equal Weighted Index Fund (NASDAQ:QQEW) saw a large decline in short interest in November. As of November 15th, there was short interest totalling 60,500 shares, a decline of 24.3% from the October 31st total of 79,900 shares. Based on an average trading volume of 53,400 shares, the days-to-cover ratio is presently 1.1 days.

First Trust NASDAQ 100 Equal Weighted Index Fund Price Performance

QQEW stock traded up $0.71 during trading on Friday, hitting $131.51. The stock had a trading volume of 11,548 shares, compared to its average volume of 90,475. The company’s 50-day moving average price is $127.20 and its two-hundred day moving average price is $124.08. First Trust NASDAQ 100 Equal Weighted Index Fund has a twelve month low of $108.83 and a twelve month high of $132.52. The stock has a market capitalization of $2.02 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 company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 26th were given a dividend of $0.1298 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.39%. The ex-dividend date of this dividend was Thursday, September 26th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in QQEW. Raymond James & Associates increased its stake 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 during the last quarter. Good Life Advisors LLC raised its position in First Trust NASDAQ 100 Equal Weighted Index Fund by 103.6% in the third quarter. Good Life Advisors LLC now owns 245,248 shares of the company’s stock valued at $30,767,000 after purchasing an additional 124,783 shares during the period. Atlas Private Wealth Advisors lifted its stake in First Trust NASDAQ 100 Equal Weighted Index Fund by 109.1% during the second quarter. Atlas Private Wealth Advisors now owns 232,821 shares of the company’s stock worth $28,711,000 after purchasing an additional 121,483 shares in the last quarter. Gratus Wealth Advisors LLC grew its stake in shares of First Trust NASDAQ 100 Equal Weighted Index Fund by 1.9% in the third quarter. Gratus Wealth Advisors LLC now owns 192,234 shares of the company’s stock valued at $23,924,000 after buying an additional 3,579 shares in the last quarter. Finally, Crumly & Associates Inc. raised its holdings in shares of First Trust NASDAQ 100 Equal Weighted Index Fund by 3.0% in the 2nd quarter. Crumly & Associates Inc. now owns 133,986 shares of the company’s stock valued at $16,519,000 after buying an additional 3,921 shares during the period.

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.