Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) Reaches New 1-Year High – Time to Buy?

Shares of Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) reached a new 52-week high on Wednesday . The company traded as high as $101.45 and last traded at $100.88, with a volume of 148317 shares trading hands. The stock had previously closed at $101.30.

Direxion NASDAQ-100 Equal Weighted Index Shares Stock Down 0.6%

The stock has a 50 day simple moving average of $98.83 and a two-hundred day simple moving average of $93.86. The stock has a market capitalization of $1.26 billion, a P/E ratio of 27.96 and a beta of 1.05.

Institutional Trading of Direxion NASDAQ-100 Equal Weighted Index Shares

Hedge funds have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. increased its stake in Direxion NASDAQ-100 Equal Weighted Index Shares by 26.7% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 41,663 shares of the company’s stock worth $3,633,000 after acquiring an additional 8,787 shares during the period. Wealth Enhancement Advisory Services LLC bought a new position in Direxion NASDAQ-100 Equal Weighted Index Shares during the 4th quarter worth $305,000. LeConte Wealth Management LLC bought a new position in Direxion NASDAQ-100 Equal Weighted Index Shares during the 1st quarter worth $10,162,000. LifeWealth Investments LLC increased its stake in Direxion NASDAQ-100 Equal Weighted Index Shares by 57.4% during the 1st quarter. LifeWealth Investments LLC now owns 12,962 shares of the company’s stock worth $1,130,000 after acquiring an additional 4,729 shares during the period. Finally, Key Financial Inc bought a new position in Direxion NASDAQ-100 Equal Weighted Index Shares during the 1st quarter worth $405,000.

Direxion NASDAQ-100 Equal Weighted Index Shares Company Profile

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.