Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) Hits New 1-Year High – Still a Buy?

Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $92.69 and last traded at $92.33, with a volume of 11734 shares traded. The stock had previously closed at $90.65.

Direxion NASDAQ-100 Equal Weighted Index Shares Trading Down 0.1 %

The firm has a market cap of $1.34 billion, a P/E ratio of 28.84 and a beta of 1.05. The business’s fifty day simple moving average is $89.85 and its 200-day simple moving average is $88.49.

Direxion NASDAQ-100 Equal Weighted Index Shares Cuts Dividend

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

Institutional Investors Weigh In On Direxion NASDAQ-100 Equal Weighted Index Shares

Institutional investors and hedge funds have recently modified their holdings of the stock. Montag A & Associates Inc. purchased a new position in Direxion NASDAQ-100 Equal Weighted Index Shares during the 1st quarter valued at about $26,000. Goodman Advisory Group LLC purchased a new position in Direxion NASDAQ-100 Equal Weighted Index Shares during the 2nd quarter valued at about $54,000. Beaird Harris Wealth Management LLC purchased a new position in Direxion NASDAQ-100 Equal Weighted Index Shares in the second quarter worth about $55,000. Banque Cantonale Vaudoise raised its holdings in Direxion NASDAQ-100 Equal Weighted Index Shares by 25.9% in the second quarter. Banque Cantonale Vaudoise now owns 1,199 shares of the company’s stock worth $106,000 after buying an additional 247 shares during the last quarter. Finally, CWM LLC raised its holdings in Direxion NASDAQ-100 Equal Weighted Index Shares by 11.1% in the second quarter. CWM LLC now owns 1,312 shares of the company’s stock worth $116,000 after buying an additional 131 shares during 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.