First Trust NASDAQ 100 Equal Weighted Index Fund (NASDAQ:QQEW) Sees Unusually-High Trading Volume - Here's Why

First Trust NASDAQ 100 Equal Weighted Index Fund (NASDAQ:QQEW - Get Free Report) saw unusually-high trading volume on Monday . Approximately 35,659 shares changed hands during mid-day trading, a decline of 28% from the previous session's volume of 49,403 shares.The stock last traded at $123.75 and had previously closed at $124.78.

First Trust NASDAQ 100 Equal Weighted Index Fund Price Performance

The stock's fifty day simple moving average is $128.94 and its 200-day simple moving average is $125.37. The firm has a market cap of $1.86 billion, a PE ratio of 30.27 and a beta of 1.05.

First Trust NASDAQ 100 Equal Weighted Index Fund Cuts Dividend

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Assetmark Inc. raised its holdings 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. Signaturefd LLC raised its holdings in shares of First Trust NASDAQ 100 Equal Weighted Index Fund by 29.9% during the third quarter. Signaturefd LLC now owns 586 shares of the company's stock worth $73,000 after purchasing an additional 135 shares during the last quarter. Key Financial Inc raised its holdings in shares of First Trust NASDAQ 100 Equal Weighted Index Fund by 137.7% during the third quarter. Key Financial Inc now owns 996 shares of the company's stock worth $125,000 after purchasing an additional 577 shares during the last quarter. Empower Advisory Group LLC purchased a new position in shares of First Trust NASDAQ 100 Equal Weighted Index Fund during the third quarter worth $205,000. Finally, Park Avenue Securities LLC purchased a new position in shares of First Trust NASDAQ 100 Equal Weighted Index Fund during the third quarter worth $222,000.

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.