Short Interest in First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) Drops By 49.0%

First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) saw a large drop in short interest in the month of May. As of May 29th, there was short interest totaling 7,155 shares, a drop of 49.0% from the May 14th total of 14,036 shares. Based on an average daily volume of 54,602 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.1% of the shares of the company are sold short.

First Trust NASDAQ-100 Equal Weighted Index Fund Stock Up 0.7%

NASDAQ:QQEW opened at $153.81 on Friday. The business’s 50-day simple moving average is $142.96 and its two-hundred day simple moving average is $139.56. The stock has a market cap of $1.85 billion, a PE ratio of 27.18 and a beta of 1.08. First Trust NASDAQ-100 Equal Weighted Index Fund has a 52 week low of $122.38 and a 52 week high of $162.19.

First Trust NASDAQ-100 Equal Weighted Index Fund Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Thursday, March 26th were issued a dividend of $0.0204 per share. The ex-dividend date of this dividend was Thursday, March 26th. This represents a $0.08 dividend on an annualized basis and a yield of 0.1%.

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

A number of institutional investors and hedge funds have recently bought and sold shares of QQEW. Avalon Trust Co bought a new stake in First Trust NASDAQ-100 Equal Weighted Index Fund during the third quarter valued at about $32,000. Hazlett Burt & Watson Inc. raised its holdings in First Trust NASDAQ-100 Equal Weighted Index Fund by 75.2% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 233 shares of the company’s stock valued at $33,000 after acquiring an additional 100 shares during the period. Ascentis Independent Advisors bought a new stake in First Trust NASDAQ-100 Equal Weighted Index Fund during the first quarter valued at about $36,000. Qube Research & Technologies Ltd bought a new stake in First Trust NASDAQ-100 Equal Weighted Index Fund during the third quarter valued at about $41,000. Finally, Sound Income Strategies LLC bought a new stake in First Trust NASDAQ-100 Equal Weighted Index Fund during the fourth quarter valued at about $45,000.

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.