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

Shares of First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $162.23 and last traded at $162.25, with a volume of 35008 shares changing hands. The stock had previously closed at $157.32.

First Trust NASDAQ-100 Equal Weighted Index Fund Price Performance

The stock has a market capitalization of $1.83 billion, a P/E ratio of 27.18 and a beta of 1.07. The stock’s fifty day moving average is $155.46 and its 200-day moving average is $142.77.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in QQEW. Jane Street Group LLC lifted its holdings in First Trust NASDAQ-100 Equal Weighted Index Fund by 29.1% in the 1st quarter. Jane Street Group LLC now owns 11,232 shares of the company’s stock worth $1,358,000 after purchasing an additional 2,531 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 4.7% in the second quarter. NewEdge Advisors LLC now owns 22,598 shares of the company’s stock valued at $3,084,000 after purchasing an additional 1,011 shares during the period. Darwin Wealth Management LLC bought a new position in shares of First Trust NASDAQ-100 Equal Weighted Index Fund in the second quarter valued at approximately $6,684,000. Ausdal Financial Partners Inc. lifted its stake in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 3.6% in the second quarter. Ausdal Financial Partners Inc. now owns 9,719 shares of the company’s stock worth $1,327,000 after buying an additional 338 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 100.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 100,000 shares of the company’s stock worth $13,649,000 after buying an additional 50,000 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.