First Trust NASDAQ 100 Equal Weighted Index Fund (NASDAQ:QQEW) Reaches New 52-Week High – Should You Buy?

First Trust NASDAQ 100 Equal Weighted Index Fund (NASDAQ:QQEW)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $132.63 and last traded at $132.53, with a volume of 21301 shares changing hands. The stock had previously closed at $131.51.

First Trust NASDAQ 100 Equal Weighted Index Fund Stock Performance

The stock’s 50-day moving average price is $127.20 and its 200-day moving average price is $124.09. The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of 30.27 and a beta of 1.05.

First Trust NASDAQ 100 Equal Weighted Index Fund Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 26th were issued a $0.1298 dividend. This represents a $0.52 annualized dividend and a yield of 0.39%. The ex-dividend date of this dividend was Thursday, September 26th.

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

A number of large investors have recently added to or reduced their stakes in the business. Raymond James & Associates lifted its position in shares of First Trust NASDAQ 100 Equal Weighted Index Fund by 10.1% in the second quarter. Raymond James & Associates now owns 782,719 shares of the company’s stock valued at $96,501,000 after acquiring an additional 71,497 shares in the last quarter. ORG Partners LLC acquired a new position in First Trust NASDAQ 100 Equal Weighted Index Fund during the second quarter valued at approximately $35,000. Garrett Wealth Advisory Group LLC boosted its position in First Trust NASDAQ 100 Equal Weighted Index Fund by 0.4% during the 2nd quarter. Garrett Wealth Advisory Group LLC now owns 99,489 shares of the company’s stock worth $12,266,000 after purchasing an additional 372 shares during the period. CWM LLC grew its stake in shares of First Trust NASDAQ 100 Equal Weighted Index Fund by 37.2% in the second quarter. CWM LLC now owns 1,625 shares of the company’s stock valued at $200,000 after buying an additional 441 shares in the last quarter. Finally, Davis Investment Partners LLC boosted its holdings in First Trust NASDAQ 100 Equal Weighted Index Fund by 2.2% in the 2nd quarter. Davis Investment Partners LLC now owns 43,990 shares of the company’s stock worth $5,552,000 after acquiring an additional 942 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.