Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) Sees Large Volume Increase – Still a Buy?

Shares of Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) saw an uptick in trading volume on Wednesday . 128,946 shares were traded during trading, a decline of 37% from the previous session’s volume of 205,056 shares.The stock last traded at $94.62 and had previously closed at $93.71.

Direxion NASDAQ-100 Equal Weighted Index Shares Stock Performance

The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of 28.84 and a beta of 1.05. The firm has a fifty day moving average price of $92.66 and a 200-day moving average price of $90.37.

Direxion NASDAQ-100 Equal Weighted Index Shares Announces Dividend

The company also recently announced a dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a $0.2402 dividend. The ex-dividend date was Monday, December 23rd.

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 QQQE. Total Investment Management Inc. acquired a new position in Direxion NASDAQ-100 Equal Weighted Index Shares during the third quarter valued at approximately $59,630,000. Waddell & Associates LLC boosted its stake in Direxion NASDAQ-100 Equal Weighted Index Shares by 3.3% in the third quarter. Waddell & Associates LLC now owns 374,445 shares of the company’s stock valued at $33,775,000 after buying an additional 12,033 shares in the last quarter. International Assets Investment Management LLC grew its position in Direxion NASDAQ-100 Equal Weighted Index Shares by 8,495.2% in the third quarter. International Assets Investment Management LLC now owns 306,935 shares of the company’s stock valued at $27,686,000 after acquiring an additional 303,364 shares during the last quarter. Frisch Financial Group Inc. grew its position in Direxion NASDAQ-100 Equal Weighted Index Shares by 4.5% in the third quarter. Frisch Financial Group Inc. now owns 189,415 shares of the company’s stock valued at $17,116,000 after acquiring an additional 8,099 shares during the last quarter. Finally, BNP Paribas Financial Markets acquired a new position in Direxion NASDAQ-100 Equal Weighted Index Shares during the third quarter worth about $13,530,000.

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.