Short Interest in First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) Drops By 44.8%

First Trust NASDAQ-100 Equal Weighted Index Fund (NASDAQ:QQEW) was the recipient of a large decrease in short interest in the month of May. As of May 15th, there was short interest totaling 14,036 shares, a decrease of 44.8% from the April 30th total of 25,435 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average daily volume of 42,093 shares, the short-interest ratio is presently 0.3 days.

First Trust NASDAQ-100 Equal Weighted Index Fund Stock Performance

NASDAQ QQEW traded down $1.22 on Tuesday, reaching $160.63. The company had a trading volume of 41,674 shares, compared to its average volume of 55,566. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of 27.18 and a beta of 1.05. First Trust NASDAQ-100 Equal Weighted Index Fund has a 1-year low of $122.38 and a 1-year high of $162.19. The company’s fifty day moving average is $138.06 and its 200-day moving average is $138.54.

First Trust NASDAQ-100 Equal Weighted Index Fund Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Thursday, March 26th were paid a $0.0204 dividend. 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%.

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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in QQEW. Avalon Trust Co acquired a new position in First Trust NASDAQ-100 Equal Weighted Index Fund in the 3rd quarter worth $32,000. Hazlett Burt & Watson Inc. boosted its stake in shares of First Trust NASDAQ-100 Equal Weighted Index Fund by 75.2% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 233 shares of the company’s stock worth $33,000 after buying an additional 100 shares during the last quarter. Ascentis Independent Advisors acquired a new position in shares of First Trust NASDAQ-100 Equal Weighted Index Fund during the 1st quarter worth about $36,000. Qube Research & Technologies Ltd acquired a new position in shares of First Trust NASDAQ-100 Equal Weighted Index Fund during the 3rd quarter worth about $41,000. Finally, Sound Income Strategies LLC acquired a new position in shares of First Trust NASDAQ-100 Equal Weighted Index Fund during the 4th quarter worth about $45,000.

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.