First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) Hits New 12-Month High – Should You Buy?

First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $151.65 and last traded at $151.65, with a volume of 705 shares traded. The stock had previously closed at $148.76.

First Trust NASDAQ-100 Equal Weighted Index Fund Stock Up 1.5%

The firm’s 50-day moving average price is $135.74 and its 200 day moving average price is $138.08. The company has a market capitalization of $1.83 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 announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Thursday, March 26th were given a dividend of $0.0204 per share. 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%.

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

A number of institutional investors have recently added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC grew its position in First Trust NASDAQ-100 Equal Weighted Index Fund by 2.2% in the 3rd quarter. Moneta Group Investment Advisors LLC now owns 3,437 shares of the company’s stock worth $485,000 after purchasing an additional 74 shares in the last quarter. Smith Moore & CO. grew its position in First Trust NASDAQ-100 Equal Weighted Index Fund by 4.5% in the 4th quarter. Smith Moore & CO. now owns 1,871 shares of the company’s stock worth $266,000 after purchasing an additional 81 shares in the last quarter. Janney Montgomery Scott LLC grew its position in First Trust NASDAQ-100 Equal Weighted Index Fund by 1.6% in the 4th quarter. Janney Montgomery Scott LLC now owns 5,760 shares of the company’s stock worth $819,000 after purchasing an additional 88 shares in the last quarter. Signaturefd LLC grew its position in First Trust NASDAQ-100 Equal Weighted Index Fund by 11.1% in the 4th quarter. Signaturefd LLC now owns 997 shares of the company’s stock worth $142,000 after purchasing an additional 100 shares in the last quarter. Finally, Harbour Investments Inc. grew its position in First Trust NASDAQ-100 Equal Weighted Index Fund by 1.9% in the 4th quarter. Harbour Investments Inc. now owns 5,479 shares of the company’s stock worth $779,000 after purchasing an additional 100 shares in the last quarter.

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.