QQEW Dividend Type Payments

Although QQEW has no upcoming (meaning, Board-approved and announced) dividends, you can sell covered calls on First Trust NASDAQ-100 Equal Weighted Index Fund to create 12 extra dividend type payments per year to boost its yield. Let's look at some recent prices (last updated Mon 4:16 PM ET):

First Trust NASDAQ-100 Equal Weighted Index Fund (QQEW)
Bid	Ask	Last	Change	Volume	P/E	Market Cap
136.85	139.43	138.12	-1.59	33K	-	2.1B

QQEW Dividend-Like Income Using Covered Calls

With QQEW at 138.12, here's a table showing how big the annual "dividend" (i.e. total annual call premium received) would need to be to attain 3%, 5%, and 10% annual yields. Also shown is the equivalent number of cents/day necessary to achieve each yield:

Annual Yield	Annual Premium	Cents/Day
3%	4.14	1.1
5%	6.91	1.9
10%	13.81	3.8

So now we need to find out of the money covered calls that pay at least the prescribed cents/day amount of time premium. That will generate income and, because they are out of the money, leave room for some upside potential on the stock. Here are some examples:

3% Yield On QQEW Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Jan 16	139.00	1.20	61	1.3	0.00 (0.0%)
Apr 17	139.00	4.00	152	2.3	0.00 (0.0%)

5% Yield On QQEW Using Covered Calls
Expiration	Strike	Call Bid	Days	Cents/Day	Upside Potential
Jan 16	142.00	1.55	61	2.5	2.57 (1.9%)
Apr 17	139.00	4.00	152	2.3	0.00 (0.0%)

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Want more examples? QPX Dividend | QQH Dividend