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 - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $133.97 and last traded at $133.94, with a volume of 105590 shares changing hands. The stock had previously closed at $132.66.

First Trust NASDAQ 100 Equal Weighted Index Fund Stock Performance

The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of 30.27 and a beta of 1.05. The firm has a fifty day moving average of $129.26 and a 200-day moving average of $126.64.

First Trust NASDAQ 100 Equal Weighted Index Fund Cuts Dividend

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

Hedge Funds Weigh In On First Trust NASDAQ 100 Equal Weighted Index Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. World Investment Advisors LLC boosted its position in First Trust NASDAQ 100 Equal Weighted Index Fund by 2.7% in the 3rd quarter. World Investment Advisors LLC now owns 3,899 shares of the company's stock valued at $489,000 after buying an additional 104 shares during the last quarter. Barrett & Company Inc. boosted its position in First Trust NASDAQ 100 Equal Weighted Index Fund by 2.3% in the 3rd quarter. Barrett & Company Inc. now owns 4,663 shares of the company's stock valued at $585,000 after buying an additional 106 shares during the last quarter. Gateway Wealth Partners LLC boosted its position in First Trust NASDAQ 100 Equal Weighted Index Fund by 1.1% in the 4th quarter. Gateway Wealth Partners LLC now owns 11,298 shares of the company's stock valued at $1,412,000 after buying an additional 123 shares during the last quarter. Cozad Asset Management Inc. boosted its position in First Trust NASDAQ 100 Equal Weighted Index Fund by 0.5% in the 3rd quarter. Cozad Asset Management Inc. now owns 25,879 shares of the company's stock valued at $3,247,000 after buying an additional 124 shares during the last quarter. Finally, GSA Capital Partners LLP boosted its position in First Trust NASDAQ 100 Equal Weighted Index Fund by 6.0% in the 3rd quarter. GSA Capital Partners LLP now owns 2,287 shares of the company's stock valued at $287,000 after buying an additional 130 shares during 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.