Gratus Wealth Cuts $22 Million From Equal-Weight Nasdaq ETF QQEW
The shift underscores recent lag for equal-weight Nasdaq funds during a market led by a few mega-cap stocks.
Overview
- A recent SEC filing shows Gratus Wealth Advisors sold 164,630 shares of QQEW for an estimated $22.3 million.
- The firm’s quarter-end QQEW position value fell by $25.0 million, reflecting both the sale and price moves in the period.
- After the reduction, QQEW accounts for 1.9% of Gratus’s assets and no longer ranks among its five largest holdings.
- QQEW gained about 12% over the past year yet trailed the S&P 500 by roughly 16 percentage points, according to recent market data.
- QQEW uses equal weights across about 100 Nasdaq-100 stocks to curb mega-cap dominance, and 13F reports confirm holdings but do not reveal trade timing or motives.