Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) Reaches New 12-Month High – What’s Next?

Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $123.37 and last traded at $123.11, with a volume of 6151 shares trading hands. The stock had previously closed at $122.36.

Direxion NASDAQ-100 Equal Weighted Index Shares Price Performance

The stock has a 50-day moving average price of $119.21 and a 200-day moving average price of $110.45. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of 27.96 and a beta of 1.08.

Direxion NASDAQ-100 Equal Weighted Index Shares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd were issued a dividend of $0.1895 per share. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $0.76 annualized dividend and a yield of 0.6%.

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

Several institutional investors and hedge funds have recently modified their holdings of QQQE. Assetmark Inc. acquired a new stake in shares of Direxion NASDAQ-100 Equal Weighted Index Shares during the 4th quarter worth about $63,000. Pittenger & Anderson Inc. acquired a new position in Direxion NASDAQ-100 Equal Weighted Index Shares in the 4th quarter valued at about $75,000. PNC Financial Services Group Inc. acquired a new position in Direxion NASDAQ-100 Equal Weighted Index Shares in the 1st quarter valued at about $89,000. Hollencrest Capital Management raised its holdings in Direxion NASDAQ-100 Equal Weighted Index Shares by 39.3% in the 1st quarter. Hollencrest Capital Management now owns 1,375 shares of the company’s stock valued at $135,000 after acquiring an additional 388 shares during the period. Finally, American Capital Advisory LLC raised its holdings in Direxion NASDAQ-100 Equal Weighted Index Shares by 15.5% in the 4th quarter. American Capital Advisory LLC now owns 1,496 shares of the company’s stock valued at $153,000 after acquiring an additional 201 shares during the period.

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.