First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) Sees Large Increase in Short Interest

First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) saw a significant growth in short interest during the month of July. As of July 15th, there was short interest totaling 26,595 shares, a growth of 285.9% from the June 30th total of 6,892 shares. Approximately 0.2% of the company’s stock are short sold. Based on an average daily trading volume, of 31,567 shares, the short-interest ratio is presently 0.8 days.

First Trust NASDAQ-100 Equal Weighted Index Fund Stock Performance

Shares of NASDAQ QQEW traded down $0.65 during mid-day trading on Friday, reaching $151.03. 39,026 shares of the company traded hands, compared to its average volume of 50,547. The stock has a market cap of $1.70 billion, a PE ratio of 27.18 and a beta of 1.07. The company’s fifty day moving average is $154.71 and its two-hundred day moving average is $142.36. First Trust NASDAQ-100 Equal Weighted Index Fund has a fifty-two week low of $122.38 and a fifty-two week high of $162.19.

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

Large investors have recently added to or reduced their stakes in the stock. Hazlett Burt & Watson Inc. grew its holdings in First Trust NASDAQ-100 Equal Weighted Index Fund by 75.2% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 233 shares of the company’s stock valued at $33,000 after purchasing an additional 100 shares during the last quarter. Ascentis Independent Advisors acquired a new stake in shares of First Trust NASDAQ-100 Equal Weighted Index Fund in the first quarter worth $36,000. Qube Research & Technologies Ltd acquired a new stake in shares of First Trust NASDAQ-100 Equal Weighted Index Fund in the third quarter worth $41,000. Sound Income Strategies LLC acquired a new stake in shares of First Trust NASDAQ-100 Equal Weighted Index Fund in the fourth quarter worth $45,000. Finally, Measured Wealth Private Client Group LLC bought a new stake in shares of First Trust NASDAQ-100 Equal Weighted Index Fund during the 3rd quarter worth $49,000.

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.