Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) Hits New 52-Week High – Still a Buy?

Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) shares hit a new 52-week high during trading on Thursday . The company traded as high as $109.09 and last traded at $108.91, with a volume of 25628 shares trading hands. The stock had previously closed at $107.99.

Direxion NASDAQ-100 Equal Weighted Index Shares Stock Up 1.4%

The stock’s 50-day moving average price is $102.43 and its 200 day moving average price is $102.76. The firm has a market cap of $1.22 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 business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 24th were given a dividend of $0.1627 per share. The ex-dividend date of this dividend was Tuesday, March 24th. This represents a $0.65 dividend on an annualized basis and a dividend yield of 0.6%.

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

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Gladstone Institutional Advisory LLC lifted its holdings in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 2.3% during the 3rd quarter. Gladstone Institutional Advisory LLC now owns 4,522 shares of the company’s stock worth $459,000 after acquiring an additional 100 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 3.9% during the 4th quarter. International Assets Investment Management LLC now owns 2,685 shares of the company’s stock worth $275,000 after acquiring an additional 100 shares during the period. Rockefeller Capital Management L.P. lifted its holdings in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 0.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 12,466 shares of the company’s stock worth $1,275,000 after acquiring an additional 107 shares during the period. Sanctuary Advisors LLC lifted its holdings in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 3.3% during the 4th quarter. Sanctuary Advisors LLC now owns 3,767 shares of the company’s stock worth $385,000 after acquiring an additional 122 shares during the period. Finally, Kingsview Wealth Management LLC lifted its holdings in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 4.6% during the 4th quarter. Kingsview Wealth Management LLC now owns 3,076 shares of the company’s stock worth $315,000 after acquiring an additional 134 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.