First Trust NASDAQ 100 Equal Weighted Index Fund (NASDAQ:QQEW) Sees Unusually-High Trading Volume – Time to Buy?

Shares of First Trust NASDAQ 100 Equal Weighted Index Fund (NASDAQ:QQEW) saw unusually-strong trading volume on Wednesday . Approximately 101,664 shares traded hands during mid-day trading, an increase of 13% from the previous session’s volume of 89,818 shares.The stock last traded at $108.17 and had previously closed at $106.81.

First Trust NASDAQ 100 Equal Weighted Index Fund Price Performance

The company has a market cap of $1.57 billion, a price-to-earnings ratio of 27.58 and a beta of 1.05. The business has a 50 day simple moving average of $126.17 and a 200 day simple moving average of $127.30.

First Trust NASDAQ 100 Equal Weighted Index Fund Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 27th were given a dividend of $0.1529 per share. This represents a $0.61 dividend on an annualized basis and a dividend yield of 0.57%. This is a positive change from First Trust NASDAQ 100 Equal Weighted Index Fund’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Thursday, March 27th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. FMR LLC boosted its holdings in First Trust NASDAQ 100 Equal Weighted Index Fund by 12.0% in the third quarter. FMR LLC now owns 3,666 shares of the company’s stock valued at $460,000 after acquiring an additional 393 shares during the last quarter. Stifel Financial Corp boosted its stake in First Trust NASDAQ 100 Equal Weighted Index Fund by 3.0% in the third quarter. Stifel Financial Corp now owns 133,872 shares of the company’s stock valued at $16,795,000 after acquiring an additional 3,860 shares during the last quarter. MML Investors Services LLC grew its holdings in First Trust NASDAQ 100 Equal Weighted Index Fund by 6.6% during the 3rd quarter. MML Investors Services LLC now owns 64,538 shares of the company’s stock worth $8,096,000 after acquiring an additional 4,011 shares during the period. World Investment Advisors LLC raised its position in shares of First Trust NASDAQ 100 Equal Weighted Index Fund by 2.7% during the 3rd quarter. World Investment Advisors LLC now owns 3,899 shares of the company’s stock valued at $489,000 after acquiring an additional 104 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. lifted its stake in shares of First Trust NASDAQ 100 Equal Weighted Index Fund by 3.6% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 20,652 shares of the company’s stock valued at $2,572,000 after purchasing an additional 726 shares during the period.

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.