Short Interest in First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) Drops By 44.8%

First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) saw a large decline in short interest in the month of May. As of May 15th, there was short interest totaling 14,036 shares, a decline of 44.8% from the April 30th total of 25,435 shares. Based on an average daily trading volume, of 42,093 shares, the short-interest ratio is currently 0.3 days. Currently, 0.1% of the company’s shares are sold short.

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

Several institutional investors and hedge funds have recently made changes to their positions in QQEW. Avalon Trust Co acquired a new position in shares of First Trust NASDAQ-100 Equal Weighted Index Fund in the 3rd quarter valued at $32,000. Hazlett Burt & Watson Inc. boosted its stake 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 period. Ascentis Independent Advisors acquired a new position in First Trust NASDAQ-100 Equal Weighted Index Fund in the 1st quarter worth $36,000. Qube Research & Technologies Ltd acquired a new position in First Trust NASDAQ-100 Equal Weighted Index Fund in the 3rd quarter worth $41,000. Finally, Sound Income Strategies LLC acquired a new position in First Trust NASDAQ-100 Equal Weighted Index Fund in the 4th quarter worth $45,000.

First Trust NASDAQ-100 Equal Weighted Index Fund Trading Down 0.8%

Shares of QQEW stock traded down $1.22 on Tuesday, hitting $160.63. The stock had a trading volume of 41,674 shares, compared to its average volume of 55,566. First Trust NASDAQ-100 Equal Weighted Index Fund has a twelve month low of $122.38 and a twelve month high of $162.19. The firm has a market cap of $1.93 billion, a P/E ratio of 27.18 and a beta of 1.05. The company has a fifty day moving average price of $138.06 and a two-hundred day moving average price of $138.54.

First Trust NASDAQ-100 Equal Weighted Index Fund Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Thursday, March 26th were issued a $0.0204 dividend. The ex-dividend date of this dividend was Thursday, March 26th. This represents a $0.08 annualized dividend and a dividend yield of 0.1%.

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.