Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) Reaches New 1-Year High – Should You Buy?

Shares of Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $122.74 and last traded at $122.74, with a volume of 704 shares. The stock had previously closed at $119.65.

Direxion NASDAQ-100 Equal Weighted Index Shares Stock Performance

The firm has a fifty day simple moving average of $111.29 and a 200-day simple moving average of $105.74. The company has a market capitalization of $1.37 billion, a PE ratio of 27.96 and a beta of 1.09.

Direxion NASDAQ-100 Equal Weighted Index Shares Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 24th were paid a dividend of $0.1627 per share. The ex-dividend date was Tuesday, March 24th. This represents a $0.65 annualized dividend and a yield of 0.5%.

Institutional Trading of Direxion NASDAQ-100 Equal Weighted Index Shares

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. First Trust Advisors LP bought a new stake in shares of Direxion NASDAQ-100 Equal Weighted Index Shares in the 2nd quarter worth approximately $413,000. Florida Financial Advisors LLC boosted its position in Direxion NASDAQ-100 Equal Weighted Index Shares by 6.7% during the 2nd quarter. Florida Financial Advisors LLC now owns 4,014 shares of the company’s stock worth $396,000 after acquiring an additional 253 shares during the period. Ameriprise Financial Inc. boosted its position in Direxion NASDAQ-100 Equal Weighted Index Shares by 0.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 631,319 shares of the company’s stock worth $62,072,000 after acquiring an additional 5,736 shares during the period. BNP Paribas Financial Markets boosted its position in Direxion NASDAQ-100 Equal Weighted Index Shares by 98.6% during the 2nd quarter. BNP Paribas Financial Markets now owns 201,400 shares of the company’s stock worth $19,800,000 after acquiring an additional 100,000 shares during the period. Finally, IHT Wealth Management LLC acquired a new position in Direxion NASDAQ-100 Equal Weighted Index Shares during the 2nd quarter worth $475,000.

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.