First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) Reaches New 52-Week High – Here’s Why

First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) hit a new 52-week high on Tuesday . The company traded as high as $163.83 and last traded at $163.4790, with a volume of 3975 shares traded. The stock had previously closed at $162.96.

First Trust NASDAQ-100 Equal Weighted Index Fund Trading Up 0.3%

The firm has a 50 day simple moving average of $156.14 and a 200 day simple moving average of $143.51. The firm has a market capitalization of $1.84 billion, a PE ratio of 27.18 and a beta of 1.08.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Hazlett Burt & Watson Inc. boosted its position in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 75.2% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 233 shares of the company’s stock valued at $33,000 after buying an additional 100 shares during the last quarter. Ascentis Independent Advisors purchased a new position in First Trust NASDAQ-100 Equal Weighted Index Fund in the 1st quarter worth about $36,000. Qube Research & Technologies Ltd purchased a new position in First Trust NASDAQ-100 Equal Weighted Index Fund in the 3rd quarter worth about $41,000. Sound Income Strategies LLC bought a new position in First Trust NASDAQ-100 Equal Weighted Index Fund during the 4th quarter valued at about $45,000. Finally, Measured Wealth Private Client Group LLC purchased a new stake in shares of First Trust NASDAQ-100 Equal Weighted Index Fund during the 3rd quarter valued at about $49,000.

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.