First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) Stock Price Down 1% – Time to Sell?

First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) fell 1% during trading on Tuesday . The company traded as low as $157.53 and last traded at $158.02. Approximately 52,237 shares were traded during trading, an increase of 1% from the average session volume of 51,911 shares. The stock had previously closed at $159.63.

First Trust NASDAQ-100 Equal Weighted Index Fund Price Performance

The stock’s 50-day simple moving average is $151.48 and its two-hundred day simple moving average is $141.34. The firm has a market capitalization of $1.81 billion, a P/E ratio of 27.18 and a beta of 1.07.

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

A number of institutional investors have recently bought and sold shares of QQEW. Wells Fargo & Company MN raised its holdings in First Trust NASDAQ-100 Equal Weighted Index Fund by 8.6% during the fourth quarter. Wells Fargo & Company MN now owns 1,072,634 shares of the company’s stock valued at $152,453,000 after acquiring an additional 84,828 shares during the period. LPL Financial LLC grew its position in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 1.7% during the fourth quarter. LPL Financial LLC now owns 687,617 shares of the company’s stock worth $97,730,000 after purchasing an additional 11,494 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 5,583.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 416,223 shares of the company’s stock worth $55,653,000 after purchasing an additional 408,899 shares in the last quarter. Royal Bank of Canada raised its stake in First Trust NASDAQ-100 Equal Weighted Index Fund by 2.4% during the 4th quarter. Royal Bank of Canada now owns 325,369 shares of the company’s stock valued at $46,245,000 after purchasing an additional 7,663 shares during the period. Finally, Gratus Wealth Advisors LLC raised its stake in First Trust NASDAQ-100 Equal Weighted Index Fund by 0.9% during the 4th quarter. Gratus Wealth Advisors LLC now owns 271,074 shares of the company’s stock valued at $38,528,000 after purchasing an additional 2,481 shares during the period.

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.