First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) Reaches New 12-Month High – Here’s Why

First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) shares reached a new 52-week high on Wednesday . The stock traded as high as $146.54 and last traded at $146.1580, with a volume of 37366 shares trading hands. The stock had previously closed at $145.69.

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

The stock’s 50-day moving average price is $142.11 and its 200-day moving average price is $139.78. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of 27.18 and a beta of 1.08.

First Trust NASDAQ-100 Equal Weighted Index Fund Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Friday, December 12th were issued a dividend of $0.1878 per share. The ex-dividend date of this dividend was Friday, December 12th. This represents a $0.75 annualized dividend and a yield of 0.5%. This is a positive change from First Trust NASDAQ-100 Equal Weighted Index Fund’s previous quarterly dividend of $0.11.

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

Hedge funds and other institutional investors have recently made changes to their positions in the company. Jones Financial Companies Lllp lifted its stake in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 5.7% in the 1st quarter. Jones Financial Companies Lllp now owns 14,990 shares of the company’s stock valued at $1,813,000 after purchasing an additional 815 shares during the period. Jane Street Group LLC grew its stake in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 29.1% during the first quarter. Jane Street Group LLC now owns 11,232 shares of the company’s stock worth $1,358,000 after purchasing an additional 2,531 shares during the period. Park National Corp OH increased its holdings in First Trust NASDAQ-100 Equal Weighted Index Fund by 11.3% in the second quarter. Park National Corp OH now owns 8,541 shares of the company’s stock valued at $1,166,000 after purchasing an additional 870 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in First Trust NASDAQ-100 Equal Weighted Index Fund by 6.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 10,951 shares of the company’s stock valued at $1,516,000 after buying an additional 631 shares during the period. Finally, CX Institutional grew its position in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 17.7% during the 2nd quarter. CX Institutional now owns 93,971 shares of the company’s stock worth $12,826,000 after buying an additional 14,112 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.