First Trust NASDAQ 100 Equal Weighted Index Fund (NASDAQ:QQEW) Sees Unusually-High Trading Volume - Should You Buy?

First Trust NASDAQ 100 Equal Weighted Index Fund (NASDAQ:QQEW - Get Free Report) shares saw unusually-strong trading volume on Thursday . Approximately 153,432 shares changed hands during mid-day trading, an increase of 136% from the previous session's volume of 65,029 shares.The stock last traded at $134.30 and had previously closed at $136.00.

First Trust NASDAQ 100 Equal Weighted Index Fund Price Performance

The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of 28.27 and a beta of 1.05. The stock's 50 day simple moving average is $129.53 and its 200-day simple moving average is $127.29.

First Trust NASDAQ 100 Equal Weighted Index Fund Cuts Dividend

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

Institutional Trading of First Trust NASDAQ 100 Equal Weighted Index Fund

Institutional investors have recently added to or reduced their stakes in the business. Assetmark Inc. lifted its stake in shares of First Trust NASDAQ 100 Equal Weighted Index Fund by 36.5% in the third quarter. Assetmark Inc. now owns 490 shares of the company's stock worth $61,000 after buying an additional 131 shares during the last quarter. Empower Advisory Group LLC acquired a new stake in shares of First Trust NASDAQ 100 Equal Weighted Index Fund in the third quarter worth $205,000. Mach 1 Financial Group LLC lifted its stake in shares of First Trust NASDAQ 100 Equal Weighted Index Fund by 8.5% in the third quarter. Mach 1 Financial Group LLC now owns 18,370 shares of the company's stock worth $2,297,000 after buying an additional 1,436 shares during the last quarter. Tyler Stone Wealth Management lifted its stake in shares of First Trust NASDAQ 100 Equal Weighted Index Fund by 68.3% in the third quarter. Tyler Stone Wealth Management now owns 8,975 shares of the company's stock worth $1,126,000 after buying an additional 3,641 shares during the last quarter. Finally, Cozad Asset Management Inc. lifted its stake in shares of First Trust NASDAQ 100 Equal Weighted Index Fund by 0.5% in the third quarter. Cozad Asset Management Inc. now owns 25,879 shares of the company's stock worth $3,247,000 after buying an additional 124 shares during 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.