First Trust NASDAQ 100 Equal Weighted Index Fund (NASDAQ:QQEW) Trading Up 0.8% - Still a Buy?

Shares of First Trust NASDAQ 100 Equal Weighted Index Fund (NASDAQ:QQEW - Get Free Report) rose 0.8% during trading on Friday . The company traded as high as $125.32 and last traded at $124.67. Approximately 126,578 shares changed hands during mid-day trading, an increase of 35% from the average daily volume of 93,700 shares. The stock had previously closed at $123.69.

First Trust NASDAQ 100 Equal Weighted Index Fund Stock Performance

The company has a market cap of $1.91 billion, a P/E ratio of 30.27 and a beta of 1.05. The stock has a 50-day simple moving average of $124.37 and a 200 day simple moving average of $122.53.

First Trust NASDAQ 100 Equal Weighted Index Fund Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Thursday, September 26th were given a $0.1298 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $0.52 annualized dividend and a yield of 0.42%.

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

Several institutional investors and hedge funds have recently bought and sold shares of the business. ORG Partners LLC bought a new position in shares of First Trust NASDAQ 100 Equal Weighted Index Fund during the 2nd quarter worth about $35,000. Signaturefd LLC boosted its holdings in First Trust NASDAQ 100 Equal Weighted Index Fund by 59.9% during the second quarter. Signaturefd LLC now owns 451 shares of the company's stock valued at $56,000 after purchasing an additional 169 shares in the last quarter. Assetmark Inc. grew its stake in shares of First Trust NASDAQ 100 Equal Weighted Index Fund by 36.5% in the 3rd quarter. Assetmark Inc. now owns 490 shares of the company's stock valued at $61,000 after purchasing an additional 131 shares during the period. Key Financial Inc raised its holdings in shares of First Trust NASDAQ 100 Equal Weighted Index Fund by 137.7% in the 3rd quarter. Key Financial Inc now owns 996 shares of the company's stock worth $125,000 after buying an additional 577 shares in the last quarter. Finally, Manchester Capital Management LLC lifted its position in shares of First Trust NASDAQ 100 Equal Weighted Index Fund by 10.0% during the 1st quarter. Manchester Capital Management LLC now owns 1,100 shares of the company's stock worth $136,000 after buying an additional 100 shares during the period.

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.