First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) Trading Down 2.1% – Here’s What Happened

First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) shares traded down 2.1% during mid-day trading on Thursday . The company traded as low as $130.25 and last traded at $130.37. 70,827 shares changed hands during mid-day trading, an increase of 36% from the average session volume of 52,242 shares. The stock had previously closed at $133.11.

First Trust NASDAQ-100 Equal Weighted Index Fund Stock Down 0.3%

The company’s 50 day moving average price is $137.02 and its two-hundred day moving average price is $139.63. The firm has a market cap of $1.71 billion, a PE ratio of 27.18 and a beta of 1.08.

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

A number of large investors have recently bought and sold shares of QQEW. Northwestern Mutual Wealth Management Co. boosted its position in First Trust NASDAQ-100 Equal Weighted Index Fund by 5,583.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 416,223 shares of the company’s stock valued at $55,653,000 after buying an additional 408,899 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 496.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 179,894 shares of the company’s stock valued at $25,568,000 after purchasing an additional 149,724 shares in the last quarter. BIP Wealth LLC increased its holdings in First Trust NASDAQ-100 Equal Weighted Index Fund by 2,644.0% during the fourth quarter. BIP Wealth LLC now owns 116,729 shares of the company’s stock valued at $16,591,000 after buying an additional 112,475 shares during the period. Wells Fargo & Company MN increased its holdings in First Trust NASDAQ-100 Equal Weighted Index Fund by 8.6% during the fourth quarter. Wells Fargo & Company MN now owns 1,072,634 shares of the company’s stock valued at $152,453,000 after buying an additional 84,828 shares during the period. Finally, Axxcess Wealth Management LLC bought a new position in First Trust NASDAQ-100 Equal Weighted Index Fund in the fourth quarter worth approximately $8,029,000.

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.