Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) Sees Large Volume Increase – Still a Buy?

Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) saw strong trading volume on Friday . 557,549 shares were traded during trading, an increase of 127% from the previous session’s volume of 246,125 shares.The stock last traded at $90.93 and had previously closed at $93.05.

Direxion NASDAQ-100 Equal Weighted Index Shares Stock Performance

The firm’s 50 day simple moving average is $90.44 and its 200 day simple moving average is $88.76. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of 28.84 and a beta of 1.05.

Direxion NASDAQ-100 Equal Weighted Index Shares Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors 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 0.71%.

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. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares in the 1st quarter valued at about $329,000. Kingsview Wealth Management LLC purchased a new stake in Direxion NASDAQ-100 Equal Weighted Index Shares in the 1st quarter worth approximately $202,000. Orion Portfolio Solutions LLC grew its stake in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 1.3% during the 1st quarter. Orion Portfolio Solutions LLC now owns 11,209 shares of the company’s stock worth $1,000,000 after purchasing an additional 146 shares during the period. Resurgent Financial Advisors LLC acquired a new stake in shares of Direxion NASDAQ-100 Equal Weighted Index Shares during the 1st quarter worth approximately $210,000. Finally, Ameritas Investment Partners Inc. purchased a new position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares during the 1st quarter valued at approximately $557,000.

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.