First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) Short Interest Update

First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) was the target of a significant decline in short interest during the month of August. As of August 14th, there was short interest totaling 21,601 shares, a decline of 33.2% from the July 30th total of 32,321 shares. Based on an average daily trading volume, of 42,931 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.2% of the shares of the company are sold short.

First Trust NASDAQ-100 Equal Weighted Index Fund Trading Down 2.1%

QQEW traded down $3.49 during midday trading on Tuesday, reaching $161.63. The company’s stock had a trading volume of 248,859 shares, compared to its average volume of 49,176. The company has a fifty day simple moving average of $158.94 and a 200 day simple moving average of $146.23. The stock has a market cap of $1.82 billion, a P/E ratio of 27.18 and a beta of 1.08. First Trust NASDAQ-100 Equal Weighted Index Fund has a twelve month low of $122.38 and a twelve month high of $167.26.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in QQEW. Moneta Group Investment Advisors LLC lifted its stake in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 2.2% in the third quarter. Moneta Group Investment Advisors LLC now owns 3,437 shares of the company’s stock valued at $485,000 after buying an additional 74 shares during the period. Janney Montgomery Scott LLC grew its holdings in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 1.6% during the 4th quarter. Janney Montgomery Scott LLC now owns 5,760 shares of the company’s stock worth $819,000 after purchasing an additional 88 shares in the last quarter. Harbour Investments Inc. increased its position in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 1.9% during the fourth quarter. Harbour Investments Inc. now owns 5,479 shares of the company’s stock valued at $779,000 after purchasing an additional 100 shares during the period. Hazlett Burt & Watson Inc. raised its stake in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 75.2% in the fourth quarter. Hazlett Burt & Watson Inc. now owns 233 shares of the company’s stock valued at $33,000 after purchasing an additional 100 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its position in First Trust NASDAQ-100 Equal Weighted Index Fund by 33.8% in the fourth quarter. Farther Finance Advisors LLC now owns 447 shares of the company’s stock worth $64,000 after purchasing an additional 113 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.