Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) Hits New 1-Year High – Here’s Why

Shares of Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) reached a new 52-week high during trading on Tuesday . The stock traded as high as $105.41 and last traded at $105.25, with a volume of 328492 shares trading hands. The stock had previously closed at $103.38.

Direxion NASDAQ-100 Equal Weighted Index Shares Stock Up 1.8%

The stock has a market cap of $1.25 billion, a price-to-earnings ratio of 27.96 and a beta of 1.08. The company’s 50-day simple moving average is $102.36 and its 200-day simple moving average is $100.54.

Institutional Investors Weigh In On Direxion NASDAQ-100 Equal Weighted Index Shares

A number of institutional investors and hedge funds have recently modified their holdings of QQQE. BNP Paribas Financial Markets boosted its position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 98.6% in the 2nd quarter. BNP Paribas Financial Markets now owns 201,400 shares of the company’s stock valued at $19,800,000 after purchasing an additional 100,000 shares during the period. Two Sigma Investments LP purchased a new position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares in the third quarter worth approximately $4,461,000. Wolverine Trading LLC raised its holdings in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 127.9% during the third quarter. Wolverine Trading LLC now owns 51,943 shares of the company’s stock valued at $5,283,000 after acquiring an additional 29,146 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 468.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 31,263 shares of the company’s stock valued at $3,073,000 after acquiring an additional 25,766 shares in the last quarter. Finally, MRA Advisory Group lifted its position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 21.2% in the 2nd quarter. MRA Advisory Group now owns 120,418 shares of the company’s stock valued at $11,838,000 after acquiring an additional 21,091 shares in 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.