First Trust NASDAQ 100 Equal Weighted Index Fund (NASDAQ:QQEW) Hits New 12-Month Low – What’s Next?

First Trust NASDAQ 100 Equal Weighted Index Fund (NASDAQ:QQEW)’s stock price reached a new 52-week low on Friday . The company traded as low as $112.51 and last traded at $112.61, with a volume of 28464 shares trading hands. The stock had previously closed at $116.66.

First Trust NASDAQ 100 Equal Weighted Index Fund Stock Performance

The stock has a 50 day moving average of $127.47 and a two-hundred day moving average of $127.64. The stock has a market cap of $1.60 billion, a PE ratio of 27.58 and a beta of 1.05.

First Trust NASDAQ 100 Equal Weighted Index Fund Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 27th were given a $0.1529 dividend. This is an increase from First Trust NASDAQ 100 Equal Weighted Index Fund’s previous quarterly dividend of $0.13. This represents a $0.61 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend was Thursday, March 27th.

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

Several hedge funds have recently made changes to their positions in QQEW. Raymond James Financial Inc. acquired a new stake in First Trust NASDAQ 100 Equal Weighted Index Fund during the 4th quarter valued at $119,160,000. Independent Advisor Alliance acquired a new position in First Trust NASDAQ 100 Equal Weighted Index Fund during the fourth quarter valued at $17,108,000. JP Wealth Management Inc. purchased a new stake in First Trust NASDAQ 100 Equal Weighted Index Fund in the 4th quarter worth about $15,063,000. LPL Financial LLC grew its stake in First Trust NASDAQ 100 Equal Weighted Index Fund by 12.2% during the 4th quarter. LPL Financial LLC now owns 856,301 shares of the company’s stock valued at $107,003,000 after acquiring an additional 92,847 shares in the last quarter. Finally, Virtus Wealth Solutions LLC purchased a new position in First Trust NASDAQ 100 Equal Weighted Index Fund during the 4th quarter valued at about $11,223,000.

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.