Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) Hits New 1-Year High – Still a Buy?

Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $92.69 and last traded at $92.33, with a volume of 11734 shares. The stock had previously closed at $90.65.

Direxion NASDAQ-100 Equal Weighted Index Shares Stock Down 0.1 %

The firm has a market capitalization of $1.34 billion, a PE ratio of 28.84 and a beta of 1.05. The firm’s fifty day simple moving average is $89.85 and its 200-day simple moving average is $88.49.

Direxion NASDAQ-100 Equal Weighted Index Shares Cuts Dividend

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Envestnet Portfolio Solutions Inc. bought a new position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares during the 1st quarter valued at approximately $329,000. KCM Investment Advisors LLC bought a new position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares during the 1st quarter valued at approximately $206,000. Montag A & Associates Inc. bought a new position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares during the 1st quarter valued at approximately $26,000. Avantax Advisory Services Inc. boosted its stake in Direxion NASDAQ-100 Equal Weighted Index Shares by 8.6% in the 1st quarter. Avantax Advisory Services Inc. now owns 11,396 shares of the company’s stock worth $1,017,000 after purchasing an additional 906 shares during the period. Finally, Berkshire Money Management Inc. boosted its stake in Direxion NASDAQ-100 Equal Weighted Index Shares by 2.4% in the 1st quarter. Berkshire Money Management Inc. now owns 780,857 shares of the company’s stock worth $69,652,000 after purchasing an additional 18,298 shares during the period.

Direxion NASDAQ-100 Equal Weighted Index Shares Company Profile

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.