Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) Reaches New 52-Week High – What’s Next?

Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $96.39 and last traded at $96.19, with a volume of 7096 shares. The stock had previously closed at $95.88.

Direxion NASDAQ-100 Equal Weighted Index Shares Stock Performance

The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of 28.84 and a beta of 1.05. The company has a 50-day moving average price of $92.30 and a 200-day moving average price of $89.66.

Direxion NASDAQ-100 Equal Weighted Index Shares Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 24th were issued a $0.1602 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend was Tuesday, September 24th.

Institutional Trading of Direxion NASDAQ-100 Equal Weighted Index Shares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in QQQE. Berkshire Money Management Inc. raised its stake in Direxion NASDAQ-100 Equal Weighted Index Shares by 2.5% during the 2nd quarter. Berkshire Money Management Inc. now owns 800,676 shares of the company’s stock worth $71,052,000 after acquiring an additional 19,819 shares in the last quarter. Total Investment Management Inc. acquired a new stake in Direxion NASDAQ-100 Equal Weighted Index Shares during the 3rd quarter worth $59,630,000. Waddell & Associates LLC grew its holdings in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 3.3% during the third quarter. Waddell & Associates LLC now owns 374,445 shares of the company’s stock worth $33,775,000 after buying an additional 12,033 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 8,495.2% during the third quarter. International Assets Investment Management LLC now owns 306,935 shares of the company’s stock worth $27,686,000 after purchasing an additional 303,364 shares during the last quarter. Finally, Frisch Financial Group Inc. raised its position in Direxion NASDAQ-100 Equal Weighted Index Shares by 4.5% during the 3rd quarter. Frisch Financial Group Inc. now owns 189,415 shares of the company’s stock worth $17,116,000 after buying an additional 8,099 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.