First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) Sees Large Volume Increase – Time to Buy?

First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) shares saw unusually-high trading volume on Friday. 101,441 shares were traded during trading, an increase of 112% from the average daily volume of 47,901 shares. The stock last traded at $151.71 and had previously closed at $156.42.

First Trust NASDAQ-100 Equal Weighted Index Fund Trading Down 4.2%

The firm has a 50 day moving average price of $160.80 and a 200-day moving average price of $148.47. The firm has a market cap of $1.76 billion, a PE ratio of 27.18 and a beta of 1.08.

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

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Hershey Financial Advisers LLC purchased a new stake in shares of First Trust NASDAQ-100 Equal Weighted Index Fund during the 1st quarter worth $1,612,000. Independent Financial Group LLC acquired a new position in shares of First Trust NASDAQ-100 Equal Weighted Index Fund during the first quarter worth $2,478,000. Wealthfront Advisers LLC increased its holdings in First Trust NASDAQ-100 Equal Weighted Index Fund by 14.9% in the first quarter. Wealthfront Advisers LLC now owns 6,153 shares of the company’s stock valued at $781,000 after buying an additional 798 shares during the last quarter. D.A. Davidson & CO. increased its holdings in First Trust NASDAQ-100 Equal Weighted Index Fund by 2.7% in the first quarter. D.A. Davidson & CO. now owns 21,385 shares of the company’s stock valued at $2,715,000 after buying an additional 561 shares during the last quarter. Finally, Procyon Advisors LLC purchased a new stake in First Trust NASDAQ-100 Equal Weighted Index Fund during the 1st quarter worth about $1,088,000.

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.