First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) Stock Price Up 1.4% – Time to Buy?

Shares of First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) shot up 1.4% on Tuesday . The company traded as high as $165.16 and last traded at $164.94. 33,525 shares changed hands during mid-day trading, a decline of 31% from the average daily volume of 48,777 shares. The stock had previously closed at $162.69.

First Trust NASDAQ-100 Equal Weighted Index Fund Price Performance

The firm has a market capitalization of $1.91 billion, a P/E ratio of 27.18 and a beta of 1.08. The firm has a 50-day moving average price of $159.70 and a two-hundred day moving average price of $149.22.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hazlett Burt & Watson Inc. boosted its holdings in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 75.2% in 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 period. Ascentis Independent Advisors bought a new stake in First Trust NASDAQ-100 Equal Weighted Index Fund during the 1st quarter valued at $36,000. POM Investment Strategies LLC lifted its holdings in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 231.9% in the 2nd quarter. POM Investment Strategies LLC now owns 229 shares of the company’s stock worth $37,000 after buying an additional 160 shares during the period. SHP Wealth Management purchased a new stake in shares of First Trust NASDAQ-100 Equal Weighted Index Fund in the 4th quarter worth $91,000. Finally, Parallel Advisors LLC grew its position in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 1,534.0% during the 1st quarter. Parallel Advisors LLC now owns 817 shares of the company’s stock worth $104,000 after buying an additional 767 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.