Short Interest in First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) Drops By 22.6%

First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) was the target of a significant decline in short interest in the month of August. As of August 15th, there was short interest totaling 48,200 shares, a decline of 22.6% from the July 31st total of 62,300 shares. Based on an average trading volume of 50,900 shares, the short-interest ratio is currently 0.9 days. Based on an average trading volume of 50,900 shares, the short-interest ratio is currently 0.9 days.

First Trust NASDAQ-100 Equal Weighted Index Fund Stock Performance

Shares of QQEW stock opened at $135.69 on Thursday. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of 27.18 and a beta of 1.05. First Trust NASDAQ-100 Equal Weighted Index Fund has a 52 week low of $104.28 and a 52 week high of $140.24. The firm’s 50-day simple moving average is $136.91 and its two-hundred day simple moving average is $129.51.

First Trust NASDAQ-100 Equal Weighted Index Fund Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Thursday, June 26th were given a $0.13 dividend. The ex-dividend date of this dividend was Thursday, June 26th. This represents a $0.52 annualized dividend and a dividend yield of 0.4%.

Institutional Trading of First Trust NASDAQ-100 Equal Weighted Index Fund

Hedge funds and other institutional investors have recently modified their holdings of the business. NBC Securities Inc. bought a new stake in shares of First Trust NASDAQ-100 Equal Weighted Index Fund in the first quarter valued at approximately $95,000. Wealth Enhancement Advisory Services LLC raised its position in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 5.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 9,873 shares of the company’s stock valued at $1,234,000 after purchasing an additional 495 shares during the period. Generali Investments Management Co LLC raised its position in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 100.1% in the first quarter. Generali Investments Management Co LLC now owns 19,527 shares of the company’s stock valued at $2,361,000 after purchasing an additional 9,767 shares during the period. Secure Asset Management LLC raised its position in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 0.8% in the first quarter. Secure Asset Management LLC now owns 13,665 shares of the company’s stock valued at $1,653,000 after purchasing an additional 112 shares during the period. Finally, Whipplewood Advisors LLC raised its position in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 328.4% in the first quarter. Whipplewood Advisors LLC now owns 2,849 shares of the company’s stock valued at $345,000 after purchasing an additional 2,184 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.