29-Apr-2024
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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 29, 2024, QQEW stock price climbed to $119.36 with 152,281 million shares trading.
QQEW has a beta of 1.22, meaning it tends to be more sensitive to market movements. QQEW has a correlation of 0.90 to the broad based SPY ETF.
QQEW has a market cap of $2.11 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 return of +21.9%, while the SPY ETF gained +24.2%. In the last 3 month period, QQEW fell short of the market, returning -0.9%, while SPY returned +4.1%. However, in the most recent 2 weeks QQEW has outperformed the stock market by returning +1.2%, while SPY returned +1.1%.
QQEW support price is $117.54 and resistance is $120.02 (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.