First Trust NASDAQ 100 Equal Weighted Index Fund (NASDAQ:QQEW) Sets New 12-Month High – Still a Buy?

First Trust NASDAQ 100 Equal Weighted Index Fund (NASDAQ:QQEW)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $136.14 and last traded at $136.10, with a volume of 47605 shares changing hands. The stock had previously closed at $134.79.

First Trust NASDAQ 100 Equal Weighted Index Fund Price Performance

The stock has a market cap of $1.99 billion, a price-to-earnings ratio of 30.27 and a beta of 1.05. The stock’s 50-day moving average is $129.51 and its 200 day moving average is $126.90.

First Trust NASDAQ 100 Equal Weighted Index Fund Cuts Dividend

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

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

Hedge funds have recently added to or reduced their stakes in the company. Empower Advisory Group LLC acquired a new stake in First Trust NASDAQ 100 Equal Weighted Index Fund in the third quarter valued at about $205,000. Mach 1 Financial Group LLC lifted its position in shares of First Trust NASDAQ 100 Equal Weighted Index Fund by 8.5% during the 3rd quarter. Mach 1 Financial Group LLC now owns 18,370 shares of the company’s stock valued at $2,297,000 after acquiring an additional 1,436 shares during the period. Tyler Stone Wealth Management lifted its position in shares of First Trust NASDAQ 100 Equal Weighted Index Fund by 68.3% during the 3rd quarter. Tyler Stone Wealth Management now owns 8,975 shares of the company’s stock valued at $1,126,000 after acquiring an additional 3,641 shares during the period. Cozad Asset Management Inc. lifted its position in shares of First Trust NASDAQ 100 Equal Weighted Index Fund by 0.5% during the 3rd quarter. Cozad Asset Management Inc. now owns 25,879 shares of the company’s stock valued at $3,247,000 after acquiring an additional 124 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of First Trust NASDAQ 100 Equal Weighted Index Fund by 17.7% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 9,378 shares of the company’s stock valued at $1,176,000 after acquiring an additional 1,408 shares during the period.

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.