First Trust NASDAQ 100 Equal Weighted Index Fund (NASDAQ:QQEW) Sees Significant Drop in Short Interest

First Trust NASDAQ 100 Equal Weighted Index Fund (NASDAQ:QQEW) was the target of a large decline in short interest during the month of November. As of November 15th, there was short interest totalling 60,500 shares, a decline of 24.3% from the October 31st total of 79,900 shares. Based on an average trading volume of 53,400 shares, the days-to-cover ratio is currently 1.1 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of QQEW. Raymond James & Associates lifted its holdings in First Trust NASDAQ 100 Equal Weighted Index Fund by 10.1% in the second quarter. Raymond James & Associates now owns 782,719 shares of the company’s stock worth $96,501,000 after acquiring an additional 71,497 shares during the last quarter. Good Life Advisors LLC grew its stake in First Trust NASDAQ 100 Equal Weighted Index Fund by 103.6% during the 3rd quarter. Good Life Advisors LLC now owns 245,248 shares of the company’s stock worth $30,767,000 after buying an additional 124,783 shares during the last quarter. Atlas Private Wealth Advisors grew its stake in First Trust NASDAQ 100 Equal Weighted Index Fund by 109.1% during the 2nd quarter. Atlas Private Wealth Advisors now owns 232,821 shares of the company’s stock worth $28,711,000 after buying an additional 121,483 shares during the last quarter. Gratus Wealth Advisors LLC increased its position in First Trust NASDAQ 100 Equal Weighted Index Fund by 1.9% in the third quarter. Gratus Wealth Advisors LLC now owns 192,234 shares of the company’s stock worth $23,924,000 after buying an additional 3,579 shares during the period. Finally, Crumly & Associates Inc. lifted its stake in First Trust NASDAQ 100 Equal Weighted Index Fund by 3.0% in the second quarter. Crumly & Associates Inc. now owns 133,986 shares of the company’s stock valued at $16,519,000 after buying an additional 3,921 shares during the last quarter.

First Trust NASDAQ 100 Equal Weighted Index Fund Trading Down 0.5 %

QQEW stock opened at $130.80 on Friday. The stock’s 50 day simple moving average is $127.05 and its 200 day simple moving average is $123.99. First Trust NASDAQ 100 Equal Weighted Index Fund has a 12-month low of $108.47 and a 12-month high of $132.52. The firm has a market cap of $2.01 billion, a P/E ratio of 30.27 and a beta of 1.05.

First Trust NASDAQ 100 Equal Weighted Index Fund Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 26th were given a $0.1298 dividend. The ex-dividend date was Thursday, September 26th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.40%.

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.