Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) Reaches New 12-Month High – Should You Buy?

Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $95.37 and last traded at $95.34, with a volume of 59099 shares. The stock had previously closed at $94.01.

Direxion NASDAQ-100 Equal Weighted Index Shares Stock Down 0.4 %

The stock has a market capitalization of $1.35 billion, a P/E ratio of 28.84 and a beta of 1.05. The stock’s 50 day moving average price is $91.22 and its 200-day moving average price is $89.18.

Direxion NASDAQ-100 Equal Weighted Index Shares Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 24th were paid a $0.1602 dividend. The ex-dividend date was Tuesday, September 24th. This represents a $0.64 annualized dividend and a yield of 0.68%.

Institutional Trading of Direxion NASDAQ-100 Equal Weighted Index Shares

Several hedge funds and other institutional investors have recently made changes to their positions in QQQE. Berkshire Money Management Inc. increased its position in Direxion NASDAQ-100 Equal Weighted Index Shares by 2.5% during the 2nd quarter. Berkshire Money Management Inc. now owns 800,676 shares of the company’s stock valued at $71,052,000 after buying an additional 19,819 shares in the last quarter. Total Investment Management Inc. acquired a new position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares during the third quarter valued at about $59,630,000. Waddell & Associates LLC increased its holdings in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 3.3% during the third quarter. Waddell & Associates LLC now owns 374,445 shares of the company’s stock valued at $33,775,000 after acquiring an additional 12,033 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 8,495.2% in the 3rd quarter. International Assets Investment Management LLC now owns 306,935 shares of the company’s stock valued at $27,686,000 after purchasing an additional 303,364 shares during the last quarter. Finally, Frisch Financial Group Inc. boosted its stake in Direxion NASDAQ-100 Equal Weighted Index Shares by 4.5% in the 3rd quarter. Frisch Financial Group Inc. now owns 189,415 shares of the company’s stock worth $17,116,000 after purchasing an additional 8,099 shares in the last quarter.

Direxion NASDAQ-100 Equal Weighted Index Shares Company Profile

The Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE) is an exchange-traded fund that is based on the NASDAQ-100 Equally Weighted index. The fund tracks an equal-weighted version of the NASDAQ 100. QQQE was launched on Mar 21, 2012 and is managed by Direxion.