Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) Sets New 12-Month High – Time to Buy?

Shares of Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $95.37 and last traded at $95.34, with a volume of 59099 shares trading hands. The stock had previously closed at $94.01.

Direxion NASDAQ-100 Equal Weighted Index Shares Price Performance

The business has a 50-day simple moving average of $90.96 and a 200-day simple moving average of $89.07. The firm has a market capitalization of $1.35 billion, a PE ratio of 28.84 and a beta of 1.05.

Direxion NASDAQ-100 Equal Weighted Index Shares Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 24th were given a dividend of $0.1602 per share. The ex-dividend date of this dividend was Tuesday, September 24th. This represents a $0.64 dividend on an annualized basis and a yield of 0.68%.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Goodman Advisory Group LLC purchased a new stake in shares of Direxion NASDAQ-100 Equal Weighted Index Shares in the second quarter worth approximately $54,000. Beaird Harris Wealth Management LLC purchased a new stake in shares of Direxion NASDAQ-100 Equal Weighted Index Shares in the second quarter worth approximately $55,000. Banque Cantonale Vaudoise raised its holdings in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 25.9% in the second quarter. Banque Cantonale Vaudoise now owns 1,199 shares of the company’s stock worth $106,000 after buying an additional 247 shares during the period. CWM LLC raised its holdings in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 11.1% in the second quarter. CWM LLC now owns 1,312 shares of the company’s stock worth $116,000 after buying an additional 131 shares during the period. Finally, Raleigh Capital Management Inc. purchased a new stake in shares of Direxion NASDAQ-100 Equal Weighted Index Shares in the third quarter worth approximately $142,000.

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.