First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) Stock Short Interest Drops 79.4%

First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) was the target of a large decline in short interest in October. As of October 30th, there was short interest totaling 10,095 shares, a decline of 79.4% from the October 15th total of 48,991 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average daily volume of 41,254 shares, the days-to-cover ratio is currently 0.2 days.

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 QQEW. Benjamin Edwards Inc. purchased a new stake in shares of First Trust NASDAQ-100 Equal Weighted Index Fund during the 3rd quarter valued at $999,000. Private Advisor Group LLC boosted its stake in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 314.3% in the 3rd quarter. Private Advisor Group LLC now owns 76,405 shares of the company’s stock valued at $12,433,000 after purchasing an additional 57,963 shares in the last quarter. HighTower Advisors LLC bought a new position in shares of First Trust NASDAQ-100 Equal Weighted Index Fund during the 3rd quarter valued at $15,265,000. Silver Oak Securities Incorporated bought a new position in shares of First Trust NASDAQ-100 Equal Weighted Index Fund during the 3rd quarter valued at $424,000. Finally, IFG Advisory LLC grew its holdings in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 17.1% during the 3rd quarter. IFG Advisory LLC now owns 856 shares of the company’s stock valued at $139,000 after purchasing an additional 125 shares during the last quarter.

First Trust NASDAQ-100 Equal Weighted Index Fund Trading Down 0.3%

Shares of QQEW traded down $0.45 during trading hours on Thursday, reaching $150.65. 17,732 shares of the stock traded hands, compared to its average volume of 48,814. First Trust NASDAQ-100 Equal Weighted Index Fund has a 52 week low of $122.38 and a 52 week high of $167.26. The company has a market cap of $1.74 billion, a price-to-earnings ratio of 27.59 and a beta of 1.10. The stock has a fifty day simple moving average of $157.92 and a 200 day simple moving average of $148.77.

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.