First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) Hits New 12-Month High – What’s Next?

First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $141.55 and last traded at $141.26, with a volume of 54155 shares trading hands. The stock had previously closed at $140.37.

First Trust NASDAQ-100 Equal Weighted Index Fund Stock Up 0.5%

The company has a 50-day moving average price of $137.47 and a 200-day moving average price of $130.92. The company has a market capitalization of $1.96 billion, a price-to-earnings ratio of 27.18 and a beta of 1.05.

First Trust NASDAQ-100 Equal Weighted Index Fund Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Thursday, September 25th were given a $0.1077 dividend. This represents a $0.43 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Thursday, September 25th.

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

Several hedge funds have recently modified their holdings of QQEW. Wealth Enhancement Advisory Services LLC raised its stake in First Trust NASDAQ-100 Equal Weighted Index Fund by 5.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 9,873 shares of the company’s stock valued at $1,234,000 after purchasing an additional 495 shares during the last quarter. NBC Securities Inc. acquired a new position in shares of First Trust NASDAQ-100 Equal Weighted Index Fund during the first quarter valued at about $95,000. Secure Asset Management LLC lifted its stake in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 0.8% in the first quarter. Secure Asset Management LLC now owns 13,665 shares of the company’s stock valued at $1,653,000 after buying an additional 112 shares during the period. Generali Investments Management Co LLC lifted its stake in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 100.1% in the first quarter. Generali Investments Management Co LLC now owns 19,527 shares of the company’s stock valued at $2,361,000 after buying an additional 9,767 shares during the period. Finally, Park Avenue Securities LLC grew its position in First Trust NASDAQ-100 Equal Weighted Index Fund by 7.2% during the first quarter. Park Avenue Securities LLC now owns 2,350 shares of the company’s stock worth $284,000 after buying an additional 158 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.