Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) Reaches New 1-Year High – What’s Next?

Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $122.74 and last traded at $122.74, with a volume of 704 shares traded. The stock had previously closed at $119.65.

Direxion NASDAQ-100 Equal Weighted Index Shares Stock Performance

The stock has a market capitalization of $1.35 billion, a P/E ratio of 27.96 and a beta of 1.09. The business has a fifty day simple moving average of $112.19 and a 200-day simple moving average of $106.03.

Direxion NASDAQ-100 Equal Weighted Index Shares Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 24th were issued a dividend of $0.1627 per share. This represents a $0.65 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Tuesday, March 24th.

Hedge Funds 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. Miller Global Investments LLC bought a new position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares during the 4th quarter worth approximately $57,000. Assetmark Inc. bought a new position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares during the 4th quarter worth approximately $63,000. Optiver Holding B.V. bought a new position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares during the 3rd quarter worth approximately $66,000. Pittenger & Anderson Inc. bought a new position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares during the 4th quarter worth approximately $75,000. Finally, PNC Financial Services Group Inc. bought a new position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares during the 1st quarter worth approximately $89,000.

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.