JP Wealth Management Closes the Door on QQEW. Should Retail Investors Follow Suit?

Core Viewpoint - JP Wealth Management, Inc. has fully liquidated its position in the First Trust Nasdaq-100 Select Equal Weight ETF (QQEW), resulting in a total net position change of approximately $17.83 million [2][3][6] Group 1: Transaction Details - JP Wealth Management, Inc. sold 126,339 shares of QQEW, with an estimated transaction value of $17.83 million based on quarterly average pricing [2][3][6] - The fund's quarter-end position in QQEW is now zero, reflecting a total net position change of $17.83 million [3][6] Group 2: Fund Performance - As of January 14, 2026, QQEW shares were priced at $141.00, representing a 12.94% increase over the past year, but underperforming the S&P 500 by 5.61 percentage points [4][5] - QQEW is currently 3.11% below its 52-week high, with a trailing dividend yield of 0.41% [4][5] Group 3: Fund Overview - The First Trust Nasdaq-100 Equal Weighted Index Fund (QQEW) provides diversified exposure to the Nasdaq-100 by equally weighting each constituent, which mitigates concentration risk [9][10] - The fund's investment strategy focuses on tracking the Nasdaq-100 Equal Weighted Index, allocating assets equally across 100 of the largest non-financial companies listed on Nasdaq [10]