Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) Reaches New 12-Month High – Still a Buy?

Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) shares reached a new 52-week high on Wednesday . The stock traded as high as $111.45 and last traded at $111.22, with a volume of 196652 shares. The stock had previously closed at $110.15.

Direxion NASDAQ-100 Equal Weighted Index Shares Price Performance

The stock has a market capitalization of $1.26 billion, a P/E ratio of 27.96 and a beta of 1.08. The business’s 50 day simple moving average is $103.14 and its two-hundred day simple moving average is $103.05.

Direxion NASDAQ-100 Equal Weighted Index Shares Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 24th were given a $0.1627 dividend. The ex-dividend date of this dividend was Tuesday, March 24th. This represents a $0.65 annualized dividend and a yield of 0.6%.

Institutional Trading of Direxion NASDAQ-100 Equal Weighted Index Shares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Morgan Stanley lifted its holdings in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 40.4% in the fourth quarter. Morgan Stanley now owns 695,869 shares of the company’s stock valued at $71,195,000 after purchasing an additional 200,167 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in Direxion NASDAQ-100 Equal Weighted Index Shares by 0.3% during the third quarter. Ameriprise Financial Inc. now owns 632,908 shares of the company’s stock worth $64,327,000 after buying an additional 1,589 shares in the last quarter. SteelPeak Wealth LLC bought a new stake in shares of Direxion NASDAQ-100 Equal Weighted Index Shares in the 4th quarter worth $56,917,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 865.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 525,272 shares of the company’s stock valued at $53,741,000 after purchasing an additional 470,880 shares during the last quarter. Finally, Waddell & Associates LLC lifted its position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 1.1% during the fourth quarter. Waddell & Associates LLC now owns 412,249 shares of the company’s stock valued at $42,177,000 after purchasing an additional 4,347 shares in the last quarter.

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.