Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) Sees Strong Trading Volume – Should You Buy?

Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) saw unusually-strong trading volume on Friday . Approximately 557,549 shares were traded during mid-day trading, an increase of 127% from the previous session’s volume of 246,125 shares.The stock last traded at $90.93 and had previously closed at $93.05.

Direxion NASDAQ-100 Equal Weighted Index Shares Trading Down 2.6 %

The company has a 50-day moving average price of $90.32 and a two-hundred day moving average price of $88.73. The stock has a market cap of $1.29 billion, a P/E ratio of 28.84 and a beta of 1.05.

Direxion NASDAQ-100 Equal Weighted Index Shares Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 24th were paid a dividend of $0.1602 per share. The ex-dividend date was Tuesday, September 24th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.71%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Berkshire Money Management Inc. increased its stake in Direxion NASDAQ-100 Equal Weighted Index Shares by 2.5% in the 2nd quarter. Berkshire Money Management Inc. now owns 800,676 shares of the company’s stock worth $71,052,000 after buying an additional 19,819 shares during the period. Atria Investments Inc purchased a new position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares during the third quarter worth approximately $2,177,000. Total Investment Management Inc. bought a new stake in shares of Direxion NASDAQ-100 Equal Weighted Index Shares during the third quarter valued at approximately $59,630,000. KMG Fiduciary Partners LLC purchased a new stake in shares of Direxion NASDAQ-100 Equal Weighted Index Shares in the third quarter valued at approximately $1,964,000. Finally, Astor Investment Management LLC bought a new position in Direxion NASDAQ-100 Equal Weighted Index Shares in the third quarter worth approximately $7,028,000.

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.