First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) Hits New 12-Month High – Here’s Why

Shares of First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $147.19 and last traded at $146.9450, with a volume of 26634 shares. The stock had previously closed at $144.49.

First Trust NASDAQ-100 Equal Weighted Index Fund Stock Up 1.7%

The stock’s 50-day moving average is $134.43 and its 200-day moving average is $137.90. The firm has a market cap of $1.76 billion, a P/E ratio of 27.18 and a beta of 1.05.

First Trust NASDAQ-100 Equal Weighted Index Fund Cuts Dividend

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

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

Several institutional investors and hedge funds have recently bought and sold shares of QQEW. Northwestern Mutual Wealth Management Co. increased its holdings in First Trust NASDAQ-100 Equal Weighted Index Fund by 5,583.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 416,223 shares of the company’s stock valued at $55,653,000 after buying an additional 408,899 shares during the period. Goldman Sachs Group Inc. increased its holdings in First Trust NASDAQ-100 Equal Weighted Index Fund by 496.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 179,894 shares of the company’s stock valued at $25,568,000 after buying an additional 149,724 shares during the period. BIP Wealth LLC increased its holdings in First Trust NASDAQ-100 Equal Weighted Index Fund by 2,644.0% in the 4th quarter. BIP Wealth LLC now owns 116,729 shares of the company’s stock valued at $16,591,000 after buying an additional 112,475 shares during the period. Wells Fargo & Company MN increased its holdings in First Trust NASDAQ-100 Equal Weighted Index Fund by 8.6% in the 4th quarter. Wells Fargo & Company MN now owns 1,072,634 shares of the company’s stock valued at $152,453,000 after buying an additional 84,828 shares during the period. Finally, Axxcess Wealth Management LLC bought a new stake in First Trust NASDAQ-100 Equal Weighted Index Fund in the 4th quarter valued at $8,029,000.

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.