First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) Sets New 52-Week High – Here’s Why

First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) shares hit a new 52-week high on Tuesday . The company traded as high as $162.23 and last traded at $162.25, with a volume of 35008 shares changing hands. The stock had previously closed at $157.32.

First Trust NASDAQ-100 Equal Weighted Index Fund Stock Up 3.1%

The stock has a market capitalization of $1.83 billion, a PE ratio of 27.18 and a beta of 1.07. The stock’s 50-day moving average is $155.46 and its 200 day moving average is $142.77.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Hazlett Burt & Watson Inc. lifted its holdings in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 75.2% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 233 shares of the company’s stock valued at $33,000 after buying an additional 100 shares during the last quarter. Ascentis Independent Advisors acquired a new position in First Trust NASDAQ-100 Equal Weighted Index Fund in the first quarter worth approximately $36,000. Qube Research & Technologies Ltd bought a new position in First Trust NASDAQ-100 Equal Weighted Index Fund during the third quarter valued at approximately $41,000. Sound Income Strategies LLC bought a new position in First Trust NASDAQ-100 Equal Weighted Index Fund during the fourth quarter valued at approximately $45,000. Finally, Measured Wealth Private Client Group LLC acquired a new stake in First Trust NASDAQ-100 Equal Weighted Index Fund in the third quarter valued at approximately $49,000.

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.