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

Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) saw a significant drop in short interest during the month of October. As of October 15th, there was short interest totaling 689,500 shares, a drop of 41.1% from the September 30th total of 1,170,000 shares. Approximately 5.5% of the company’s shares are sold short. Based on an average daily trading volume, of 149,100 shares, the days-to-cover ratio is currently 4.6 days. Based on an average daily trading volume, of 149,100 shares, the days-to-cover ratio is currently 4.6 days. Approximately 5.5% of the company’s shares are sold short.

Direxion NASDAQ-100 Equal Weighted Index Shares Stock Performance

NASDAQ QQQE traded down $0.17 on Monday, hitting $103.54. 374,920 shares of the stock were exchanged, compared to its average volume of 194,967. Direxion NASDAQ-100 Equal Weighted Index Shares has a 52-week low of $75.07 and a 52-week high of $105.37. The firm has a market capitalization of $1.24 billion, a P/E ratio of 27.96 and a beta of 1.08. The stock has a fifty day moving average price of $100.90 and a two-hundred day moving average price of $97.14.

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

A number of large investors have recently made changes to their positions in the company. Simplex Trading LLC purchased a new stake in Direxion NASDAQ-100 Equal Weighted Index Shares in the 2nd quarter worth about $25,000. Goodman Advisory Group LLC purchased a new position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares during the second quarter valued at approximately $29,000. Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 6,000.0% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 305 shares of the company’s stock valued at $27,000 after buying an additional 300 shares during the period. Parkside Financial Bank & Trust bought a new position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares during the second quarter valued at approximately $43,000. Finally, Ancora Advisors LLC raised its holdings in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 32.5% in the first quarter. Ancora Advisors LLC now owns 469 shares of the company’s stock worth $41,000 after buying an additional 115 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.