Dallas, Texas 01/17/2014 (FINANCIALSTRENDS) – First Trust NASDAQ-100 Equal Weight Index ETF(NASDAQ:QQEW) operates this exchange-traded index fund which attempts to match the yield and the prices to the nearest cent for the same funds as on the NASDAQ-100 Equal Weight IndexSM.
First Trust NASDAQ-100 Equal Weight Index ETF(NASDAQ:QQEW) holds a $292.56million market cap and has 40,997 shares. It currently trades at approximately $36.57, up by over 0l03% over average prices. The fund also has seen a high of $36.59 on its 52 week high and a low of $27.19 on its 52 week low. The company has also posted dividend rate of 0.33, while the yield for the same is 0.90. The current rates are subject to the 2 basis point slip for the 10-year Treasury yield seen on Jan 16, 2014, after the same had seen a jump of over 7 basis points as of January 15, 2014.The results were also affected by the overall drop in the futures, following a two day run ‘to the upside’ as well as most of the fourth quarter earnings beginning to see action.
First Trust NASDAQ-100 Equal Weight Index ETF(NASDAQ:QQEW) is essentially a reflection of the various small to medium sized stock the company deals with, considering the fact that this a equal-weighted fund. In the context of better performance by similar funds such as SPY, RSP, analyst analyse that the RSP with its multiple capitalization has more to offer. SPY on the other had more traditional ‘cap-weighted’ stocks and operates on nearly the same lines as S&P 500 SPDR.
First Trust NASDAQ-100 Equal Weight Index ETF(NASDAQ:QQEW) as a member of the NDX does not pay the same dividen d as the S7P 500 product, largely due to the longer tracking term that the NDX adopts, besides including such funds which are not entirely financial products either.
