First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) Shares Down 0.6% – What’s Next?

First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW)’s stock price traded down 0.6% during mid-day trading on Friday . The stock traded as low as $140.86 and last traded at $141.34. 28,168 shares changed hands during trading, a decline of 58% from the average session volume of 67,196 shares. The stock had previously closed at $142.13.

First Trust NASDAQ-100 Equal Weighted Index Fund Trading Down 0.6%

The company has a market capitalization of $1.87 billion, a price-to-earnings ratio of 27.18 and a beta of 1.08. The company has a 50 day moving average price of $142.14 and a 200 day moving average price of $139.43.

First Trust NASDAQ-100 Equal Weighted Index Fund Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Friday, December 12th were given a $0.1878 dividend. The ex-dividend date was Friday, December 12th. This is a positive change from First Trust NASDAQ-100 Equal Weighted Index Fund’s previous quarterly dividend of $0.11. This represents a $0.75 dividend on an annualized basis and a yield of 0.5%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of QQEW. Royal Bank of Canada raised its stake in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 14.9% during the first quarter. Royal Bank of Canada now owns 327,810 shares of the company’s stock worth $39,642,000 after buying an additional 42,618 shares during the last quarter. Gratus Wealth Advisors LLC grew its holdings in First Trust NASDAQ-100 Equal Weighted Index Fund by 2.1% during the 3rd quarter. Gratus Wealth Advisors LLC now owns 268,593 shares of the company’s stock worth $37,901,000 after acquiring an additional 5,417 shares during the period. Commonwealth Equity Services LLC raised its position in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 17.0% during the 3rd quarter. Commonwealth Equity Services LLC now owns 186,318 shares of the company’s stock valued at $26,291,000 after acquiring an additional 27,028 shares during the last quarter. Good Life Advisors LLC lifted its stake in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 3.0% in the 2nd quarter. Good Life Advisors LLC now owns 129,137 shares of the company’s stock valued at $17,626,000 after purchasing an additional 3,754 shares during the period. Finally, Strategic Blueprint LLC lifted its stake in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 20.7% in the 3rd quarter. Strategic Blueprint LLC now owns 110,737 shares of the company’s stock valued at $15,626,000 after purchasing an additional 19,007 shares during the period.

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.