First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) Sees Unusually-High Trading Volume – Here’s Why

First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) shares saw strong trading volume on Wednesday . 44,251 shares were traded during trading, a decline of 10% from the previous session’s volume of 49,138 shares.The stock last traded at $163.52 and had previously closed at $162.23.

First Trust NASDAQ-100 Equal Weighted Index Fund Price Performance

The stock has a market capitalization of $1.82 billion, a P/E ratio of 27.18 and a beta of 1.07. The stock’s fifty day moving average is $155.65 and its two-hundred day moving average is $142.91.

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

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Wells Fargo & Company MN grew its holdings in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 8.6% in the 4th quarter. Wells Fargo & Company MN now owns 1,072,634 shares of the company’s stock worth $152,453,000 after acquiring an additional 84,828 shares during the last quarter. LPL Financial LLC raised its position in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 1.7% during the fourth quarter. LPL Financial LLC now owns 687,617 shares of the company’s stock worth $97,730,000 after purchasing an additional 11,494 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 5,583.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 416,223 shares of the company’s stock valued at $55,653,000 after purchasing an additional 408,899 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 2.4% during the fourth quarter. Royal Bank of Canada now owns 325,369 shares of the company’s stock valued at $46,245,000 after purchasing an additional 7,663 shares during the last quarter. Finally, Gratus Wealth Advisors LLC lifted its holdings in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 0.9% during the fourth quarter. Gratus Wealth Advisors LLC now owns 271,074 shares of the company’s stock valued at $38,528,000 after purchasing an additional 2,481 shares during the last quarter.

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.