First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) Shares Shorted: Short Interest Up 300.7% in October

First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) was the recipient of a large increase in short interest in the month of October. As of October 15th, there was short interest totaling 48,991 shares, an increase of 300.7% from the September 30th total of 12,227 shares. Currently, 0.4% of the company’s stock are short sold. Based on an average daily volume of 45,402 shares, the short-interest ratio is presently 1.1 days.

First Trust NASDAQ-100 Equal Weighted Index Fund Price Performance

NASDAQ:QQEW traded down $3.32 during trading hours on Friday, reaching $153.10. 10,455 shares of the stock were exchanged, compared to its average volume of 47,808. The stock has a market cap of $1.80 billion, a PE 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. The firm has a 50 day moving average of $160.80 and a 200 day moving average of $148.47.

Hedge Funds Weigh In On First Trust NASDAQ-100 Equal Weighted Index Fund

Several institutional investors and hedge funds have recently modified their holdings of the business. Ascentis Independent Advisors acquired a new position in shares of First Trust NASDAQ-100 Equal Weighted Index Fund during the first quarter worth approximately $36,000. POM Investment Strategies LLC grew its position in First Trust NASDAQ-100 Equal Weighted Index Fund by 231.9% during the second quarter. POM Investment Strategies LLC now owns 229 shares of the company’s stock valued at $37,000 after buying an additional 160 shares during the period. Toth Financial Advisory Corp purchased a new stake in shares of First Trust NASDAQ-100 Equal Weighted Index Fund during the 3rd quarter worth approximately $52,000. Parallel Advisors LLC raised its stake in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 1,534.0% in the first quarter. Parallel Advisors LLC now owns 817 shares of the company’s stock valued at $104,000 after buying an additional 767 shares during the period. Finally, Signaturefd LLC bought a new stake in First Trust NASDAQ-100 Equal Weighted Index Fund in the 3rd quarter valued at about $167,000.

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.