First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) Shares Down 1% – What’s Next?

Shares of First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) were down 1% on Tuesday . The stock traded as low as $157.53 and last traded at $158.02. Approximately 52,237 shares were traded during trading, an increase of 1% from the average daily volume of 51,911 shares. The stock had previously closed at $159.63.

First Trust NASDAQ-100 Equal Weighted Index Fund Stock Performance

The stock has a 50 day moving average of $151.10 and a 200-day moving average of $141.23. The firm has a market capitalization of $1.79 billion, a P/E ratio of 27.18 and a beta of 1.07.

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

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Smith Moore & CO. raised its stake in First Trust NASDAQ-100 Equal Weighted Index Fund by 4.5% in the fourth quarter. Smith Moore & CO. now owns 1,871 shares of the company’s stock valued at $266,000 after purchasing an additional 81 shares in the last quarter. Rede Wealth LLC purchased a new stake in First Trust NASDAQ-100 Equal Weighted Index Fund during the fourth quarter valued at about $308,000. Sound Income Strategies LLC purchased a new stake in First Trust NASDAQ-100 Equal Weighted Index Fund during the 4th quarter valued at about $45,000. Signaturefd LLC boosted its stake in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 11.1% during the fourth quarter. Signaturefd LLC now owns 997 shares of the company’s stock valued at $142,000 after purchasing an additional 100 shares during the period. Finally, Darwin Wealth Management LLC grew its holdings in First Trust NASDAQ-100 Equal Weighted Index Fund by 6.7% in the 4th quarter. Darwin Wealth Management LLC now owns 56,737 shares of the company’s stock worth $8,064,000 after acquiring an additional 3,558 shares during 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.