First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) Trading 1.4% Higher – Time to Buy?

First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW)’s share price was up 1.4% during mid-day trading on Tuesday . The stock traded as high as $165.16 and last traded at $164.94. Approximately 33,525 shares were traded during trading, a decline of 31% from the average session volume of 48,777 shares. The stock had previously closed at $162.69.

First Trust NASDAQ-100 Equal Weighted Index Fund Trading Up 1.4%

The firm has a market cap of $1.91 billion, a PE ratio of 27.18 and a beta of 1.08. The business’s 50-day simple moving average is $159.70 and its 200 day simple moving average is $149.22.

Hedge Funds Weigh In On First Trust NASDAQ-100 Equal Weighted Index Fund

Several institutional investors have recently bought and sold shares of the business. Kestra Advisory Services LLC lifted its holdings in First Trust NASDAQ-100 Equal Weighted Index Fund by 3.4% during the first quarter. Kestra Advisory Services LLC now owns 133,973 shares of the company’s stock worth $17,011,000 after buying an additional 4,374 shares during the period. Corient Private Wealth LP increased its holdings in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 2,056.3% in the 2nd quarter. Corient Private Wealth LP now owns 85,194 shares of the company’s stock valued at $13,597,000 after acquiring an additional 81,243 shares during the period. CX Institutional raised its position in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 3.1% in the 2nd quarter. CX Institutional now owns 78,961 shares of the company’s stock worth $12,602,000 after acquiring an additional 2,379 shares in the last quarter. Granite Bay Wealth Management LLC lifted its stake in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 9.5% during the 1st quarter. Granite Bay Wealth Management LLC now owns 62,858 shares of the company’s stock worth $7,981,000 after purchasing an additional 5,471 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its stake in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 61.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 40,516 shares of the company’s stock worth $5,759,000 after purchasing an additional 15,375 shares during the last quarter.

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.