Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) Sets New 12-Month High – What’s Next?

Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) hit a new 52-week high during mid-day trading on Wednesday . The stock 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 Price Performance

The firm has a fifty day moving average price of $89.56 and a two-hundred day moving average price of $88.35. The stock has a market capitalization of $1.32 billion, a PE ratio of 28.84 and a beta of 1.05.

Direxion NASDAQ-100 Equal Weighted Index Shares Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 24th were issued a dividend of $0.1602 per share. The ex-dividend date was Tuesday, September 24th. This represents a $0.64 annualized dividend and a yield of 0.69%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in QQQE. Montag A & Associates Inc. bought a new stake in Direxion NASDAQ-100 Equal Weighted Index Shares during the first quarter valued at about $26,000. Goodman Advisory Group LLC purchased a new stake in Direxion NASDAQ-100 Equal Weighted Index Shares during the 2nd quarter worth approximately $54,000. Beaird Harris Wealth Management LLC acquired a new position in Direxion NASDAQ-100 Equal Weighted Index Shares during the 2nd quarter valued at approximately $55,000. Banque Cantonale Vaudoise lifted its stake in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 25.9% during 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 period. Finally, CWM LLC grew its holdings in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 11.1% during the second quarter. CWM LLC now owns 1,312 shares of the company’s stock valued at $116,000 after buying an additional 131 shares during the last quarter.

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.