First Trust NASDAQ 100 Equal Weighted Index Fund (NASDAQ:QQEW) Sees Strong Trading Volume – Still a Buy?

First Trust NASDAQ 100 Equal Weighted Index Fund (NASDAQ:QQEW) shares saw strong trading volume on Monday . 35,659 shares traded hands during mid-day trading, a decline of 28% from the previous session’s volume of 49,403 shares.The stock last traded at $123.75 and had previously closed at $124.78.

First Trust NASDAQ 100 Equal Weighted Index Fund Trading Down 0.4 %

The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of 30.27 and a beta of 1.05. The firm has a fifty day moving average price of $128.94 and a 200 day moving average price of $125.37.

First Trust NASDAQ 100 Equal Weighted Index Fund Cuts Dividend

The company also recently disclosed a dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were issued a dividend of $0.1439 per share. The ex-dividend date of this dividend was Friday, December 13th.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Assetmark Inc. lifted its holdings in First Trust NASDAQ 100 Equal Weighted Index Fund by 36.5% during the 3rd quarter. Assetmark Inc. now owns 490 shares of the company’s stock worth $61,000 after buying an additional 131 shares in the last quarter. Signaturefd LLC lifted its holdings in First Trust NASDAQ 100 Equal Weighted Index Fund by 29.9% during the 3rd quarter. Signaturefd LLC now owns 586 shares of the company’s stock worth $73,000 after buying an additional 135 shares in the last quarter. Key Financial Inc raised its position in shares of First Trust NASDAQ 100 Equal Weighted Index Fund by 137.7% during the 3rd quarter. Key Financial Inc now owns 996 shares of the company’s stock valued at $125,000 after acquiring an additional 577 shares during the last quarter. Empower Advisory Group LLC bought a new stake in shares of First Trust NASDAQ 100 Equal Weighted Index Fund during the 3rd quarter valued at $205,000. Finally, Park Avenue Securities LLC bought a new stake in shares of First Trust NASDAQ 100 Equal Weighted Index Fund during the 3rd quarter valued at $222,000.

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.