First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) Share Price Breaks Above 200-Day Moving Average – Here’s Why

Shares of First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $148.77 and traded as high as $151.87. First Trust NASDAQ-100 Equal Weighted Index Fund shares last traded at $151.09, with a volume of 23,624 shares trading hands.

First Trust NASDAQ-100 Equal Weighted Index Fund Stock Down 0.7%

The stock has a market capitalization of $1.72 billion, a price-to-earnings ratio of 27.59 and a beta of 1.10. The firm has a 50-day moving average of $157.69 and a two-hundred day moving average of $148.80.

Hedge Funds Weigh In On First Trust NASDAQ-100 Equal Weighted Index Fund

Several institutional investors and hedge funds have recently bought and sold shares of the business. Kestra Advisory Services LLC lifted its position in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 0.4% in the third quarter. Kestra Advisory Services LLC now owns 136,579 shares of the company’s stock worth $22,225,000 after purchasing an additional 492 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 1,709.6% during the third quarter. International Assets Investment Management LLC now owns 125,443 shares of the company’s stock worth $20,413,000 after purchasing an additional 118,511 shares during the period. HighTower Advisors LLC acquired a new stake in shares of First Trust NASDAQ-100 Equal Weighted Index Fund during the third quarter worth approximately $15,265,000. Corient Private Wealth LP boosted its holdings in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 2,056.3% during the second quarter. Corient Private Wealth LP now owns 85,194 shares of the company’s stock worth $13,597,000 after purchasing an additional 81,243 shares during the period. Finally, CX Institutional boosted its holdings in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 2.5% during the third quarter. CX Institutional now owns 80,960 shares of the company’s stock worth $13,175,000 after purchasing an additional 1,999 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.