First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) Shares Break Above Two Hundred Day Moving Average – Here’s Why

First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) shares 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 changing hands.

First Trust NASDAQ-100 Equal Weighted Index Fund Price Performance

The stock has a fifty day moving average of $157.92 and a 200 day moving average of $148.77. The firm has a market capitalization of $1.75 billion, a P/E ratio of 27.59 and a beta of 1.10.

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

A number of hedge funds have recently made changes to their positions in the business. International Assets Investment Management LLC boosted its holdings in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 1,709.6% in the 3rd quarter. International Assets Investment Management LLC now owns 125,443 shares of the company’s stock worth $20,413,000 after buying an additional 118,511 shares during the last quarter. HighTower Advisors LLC bought a new position in First Trust NASDAQ-100 Equal Weighted Index Fund during the third quarter valued at about $15,265,000. Corient Private Wealth LP increased its holdings in 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 buying an additional 81,243 shares during the last quarter. Commonwealth Equity Services LLC purchased a new stake in First Trust NASDAQ-100 Equal Weighted Index Fund during the third quarter worth about $11,805,000. Finally, Private Advisor Group LLC increased its holdings in First Trust NASDAQ-100 Equal Weighted Index Fund by 314.3% during the third quarter. Private Advisor Group LLC now owns 76,405 shares of the company’s stock worth $12,433,000 after buying an additional 57,963 shares during the last quarter.

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.