Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) Hits New 52-Week High – Here’s What Happened

Shares of Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) hit a new 52-week high during trading on Wednesday . The stock traded as high as $114.60 and last traded at $114.35, with a volume of 27140 shares traded. The stock had previously closed at $112.65.

Direxion NASDAQ-100 Equal Weighted Index Shares Price Performance

The firm’s 50-day moving average price is $104.72 and its 200 day moving average price is $103.58. The firm has a market cap of $1.28 billion, a P/E ratio of 27.96 and a beta of 1.08.

Direxion NASDAQ-100 Equal Weighted Index Shares Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 24th were given a dividend of $0.1627 per share. The ex-dividend date of this dividend was Tuesday, March 24th. This represents a $0.65 annualized dividend and a dividend yield of 0.6%.

Hedge Funds Weigh In On Direxion NASDAQ-100 Equal Weighted Index Shares

Several large investors have recently modified their holdings of QQQE. SteelPeak Wealth LLC bought a new position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares during the fourth quarter worth about $56,917,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 865.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 525,272 shares of the company’s stock worth $53,741,000 after purchasing an additional 470,880 shares during the last quarter. Morgan Stanley lifted its position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 40.4% during the fourth quarter. Morgan Stanley now owns 695,869 shares of the company’s stock worth $71,195,000 after purchasing an additional 200,167 shares during the last quarter. Independent Financial Group LLC bought a new position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares during the first quarter worth about $11,817,000. Finally, Watershed Asset Management L.L.C. bought a new position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares during the fourth quarter worth about $11,940,000.

About Direxion NASDAQ-100 Equal Weighted Index Shares

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.