First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) Stock Price Down 0.7% – Here’s Why

First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW)’s stock price was down 0.7% during trading on Thursday . The stock traded as low as $132.16 and last traded at $132.80. Approximately 32,924 shares changed hands during trading, a decline of 32% from the average daily volume of 48,749 shares. The stock had previously closed at $133.76.

First Trust NASDAQ-100 Equal Weighted Index Fund Stock Performance

The firm has a market cap of $1.75 billion, a P/E ratio of 27.18 and a beta of 1.08. The firm has a fifty day moving average of $140.22 and a 200-day moving average of $139.97.

First Trust NASDAQ-100 Equal Weighted Index Fund Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Friday, December 12th were given a $0.1878 dividend. This is a boost from First Trust NASDAQ-100 Equal Weighted Index Fund’s previous quarterly dividend of $0.11. This represents a $0.75 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Friday, December 12th.

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

Several institutional investors have recently modified their holdings of QQEW. Avalon Trust Co acquired a new stake in shares of First Trust NASDAQ-100 Equal Weighted Index Fund in the 3rd quarter worth about $32,000. Hazlett Burt & Watson Inc. grew its position in First Trust NASDAQ-100 Equal Weighted Index Fund by 75.2% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 233 shares of the company’s stock worth $33,000 after purchasing an additional 100 shares during the last quarter. MTM Investment Management LLC bought a new position in First Trust NASDAQ-100 Equal Weighted Index Fund in the 2nd quarter worth about $41,000. Qube Research & Technologies Ltd acquired a new stake in shares of First Trust NASDAQ-100 Equal Weighted Index Fund in the third quarter valued at approximately $41,000. Finally, Sound Income Strategies LLC bought a new stake in shares of First Trust NASDAQ-100 Equal Weighted Index Fund during the fourth quarter valued at approximately $45,000.

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.