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) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $133.76 and last traded at $133.48, with a volume of 3966 shares traded. The stock had previously closed at $133.30.

First Trust NASDAQ 100 Equal Weighted Index Fund Stock Performance

The stock has a market capitalization of $2.04 billion, a PE ratio of 30.27 and a beta of 1.05. The firm has a 50 day moving average of $127.97 and a 200-day moving average of $124.43.

First Trust NASDAQ 100 Equal Weighted Index Fund Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 26th were given a $0.1298 dividend. This represents a $0.52 annualized dividend and a yield of 0.39%. The ex-dividend date was Thursday, September 26th.

Institutional Trading of First Trust NASDAQ 100 Equal Weighted Index Fund

A number of institutional investors and hedge funds have recently modified their holdings of the company. Raymond James & Associates raised its holdings in First Trust NASDAQ 100 Equal Weighted Index Fund by 10.1% in the 2nd quarter. Raymond James & Associates now owns 782,719 shares of the company’s stock worth $96,501,000 after acquiring an additional 71,497 shares during the period. Good Life Advisors LLC grew its holdings in First Trust NASDAQ 100 Equal Weighted Index Fund by 103.6% in the 3rd quarter. Good Life Advisors LLC now owns 245,248 shares of the company’s stock valued at $30,767,000 after buying an additional 124,783 shares during the last quarter. Gratus Wealth Advisors LLC lifted its holdings in shares of First Trust NASDAQ 100 Equal Weighted Index Fund by 1.9% during the third quarter. Gratus Wealth Advisors LLC now owns 192,234 shares of the company’s stock worth $23,924,000 after buying an additional 3,579 shares during the last quarter. Crumly & Associates Inc. boosted its position in shares of First Trust NASDAQ 100 Equal Weighted Index Fund by 3.0% in the second quarter. Crumly & Associates Inc. now owns 133,986 shares of the company’s stock valued at $16,519,000 after acquiring an additional 3,921 shares during the period. Finally, Stifel Financial Corp increased its position in First Trust NASDAQ 100 Equal Weighted Index Fund by 3.0% during the third quarter. Stifel Financial Corp now owns 133,872 shares of the company’s stock worth $16,795,000 after acquiring an additional 3,860 shares during the period.

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.