Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) Sees Significant Drop in Short Interest

Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) was the recipient of a significant drop in short interest during the month of March. As of March 31st, there was short interest totaling 631,481 shares, a drop of 14.9% from the March 15th total of 741,883 shares. Based on an average daily volume of 284,626 shares, the short-interest ratio is currently 2.2 days. Approximately 5.5% of the company’s stock are sold short.

Hedge Funds Weigh In On Direxion NASDAQ-100 Equal Weighted Index Shares

A number of hedge funds have recently added to or reduced their stakes in QQQE. First Trust Advisors LP purchased a new position in Direxion NASDAQ-100 Equal Weighted Index Shares in the 2nd quarter worth approximately $413,000. Florida Financial Advisors LLC raised its holdings in Direxion NASDAQ-100 Equal Weighted Index Shares by 6.7% in the 2nd quarter. Florida Financial Advisors LLC now owns 4,014 shares of the company’s stock worth $396,000 after acquiring an additional 253 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Direxion NASDAQ-100 Equal Weighted Index Shares by 0.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 631,319 shares of the company’s stock worth $62,072,000 after acquiring an additional 5,736 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in 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 worth $19,800,000 after acquiring an additional 100,000 shares during the last quarter. Finally, IHT Wealth Management LLC purchased a new position in Direxion NASDAQ-100 Equal Weighted Index Shares in the 2nd quarter worth approximately $475,000.

Direxion NASDAQ-100 Equal Weighted Index Shares Stock Up 1.3%

Shares of QQQE stock traded up $1.33 during trading hours on Friday, hitting $106.66. 237,077 shares of the company’s stock traded hands, compared to its average volume of 283,387. The stock’s fifty day simple moving average is $101.55 and its two-hundred day simple moving average is $102.43. Direxion NASDAQ-100 Equal Weighted Index Shares has a 12-month low of $79.82 and a 12-month high of $107.06. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of 27.96 and a beta of 1.07.

Direxion NASDAQ-100 Equal Weighted Index Shares Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 24th were issued a $0.1627 dividend. This represents a $0.65 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Tuesday, March 24th.

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.