First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) Sees Strong Trading Volume – Time to Buy?

First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) shares saw an uptick in trading volume on Monday . 41,215 shares traded hands during mid-day trading, a decline of 23% from the previous session’s volume of 53,247 shares.The stock last traded at $128.3790 and had previously closed at $127.58.

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

The stock has a fifty day simple moving average of $132.86 and a 200-day simple moving average of $138.82. The company has a market capitalization of $1.58 billion, a PE ratio of 27.18 and a beta of 1.08.

First Trust NASDAQ-100 Equal Weighted Index Fund Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Thursday, March 26th were paid a dividend of $0.0204 per share. The ex-dividend date was Thursday, March 26th. This represents a $0.08 annualized dividend and a yield of 0.1%.

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

Several hedge funds have recently added to or reduced their stakes in the stock. Avalon Trust Co acquired a new stake in First Trust NASDAQ-100 Equal Weighted Index Fund during the third quarter worth approximately $32,000. Hazlett Burt & Watson Inc. boosted its holdings in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 75.2% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 233 shares of the company’s stock valued at $33,000 after buying an additional 100 shares in the last quarter. Qube Research & Technologies Ltd purchased a new position in shares of First Trust NASDAQ-100 Equal Weighted Index Fund in the 3rd quarter valued at $41,000. Sound Income Strategies LLC acquired a new stake in First Trust NASDAQ-100 Equal Weighted Index Fund during the 4th quarter worth $45,000. Finally, Farther Finance Advisors LLC raised its stake in First Trust NASDAQ-100 Equal Weighted Index Fund by 149.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 334 shares of the company’s stock worth $47,000 after acquiring an additional 200 shares in 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.