QQEW Stock Summary and Trading Ideas (First Trust Nasdaq-100 Equal Weighted | NASDAQ:QQEW)

The First Trust NASDAQ-100 Equal Weighted Index Fund is an exchange-traded index fund. The investment objective of the fund is to replicate as closely as possible before fees and expenses the price and yield of the NASDAQ-100 Equal Weighted Index.

First Trust Nasdaq-100 Equal Weighted trades on the NASDAQ stock market under the symbol QQEW.

As of April 22, 2024, QQEW stock price climbed to $116.26 with 42,940 million shares trading.

QQEW has a beta of 1.21, meaning it tends to be more sensitive to market movements. QQEW has a correlation of 0.89 to the broad based SPY ETF.

QQEW has a market cap of $2.05 billion. This is considered a Mid Cap stock.

In the last 3 years, QQEW stock traded as high as $124.84 and as low as $79.73.

QQEW has underperformed the market in the last year with a price return of +17.8% while the SPY ETF gained +22.3%. QQEW has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -2.0% and -4.5%, respectively, while the SPY returned +3.9% and -3.6%, respectively.

QQEW support price is $113.93 and resistance is $116.17 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that QQEW stock will trade within this expected range on the day.