Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) Sees Strong Trading Volume – Should You Buy?

Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) shares saw unusually-strong trading volume on Thursday . Approximately 212,234 shares were traded during mid-day trading, a decline of 14% from the previous session’s volume of 247,814 shares.The stock last traded at $91.06 and had previously closed at $90.96.

Direxion NASDAQ-100 Equal Weighted Index Shares Price Performance

The stock’s 50-day moving average is $92.79 and its 200 day moving average is $89.93. The stock has a market cap 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 declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 24th were given a $0.1602 dividend. The ex-dividend date of this dividend was Tuesday, September 24th. This represents a $0.64 annualized dividend and a dividend yield of 0.71%.

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

Several institutional investors and hedge funds have recently modified their holdings of QQQE. White Pine Investment CO raised its holdings in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 0.8% in the 2nd quarter. White Pine Investment CO now owns 16,310 shares of the company’s stock worth $1,447,000 after purchasing an additional 124 shares during the period. Envestnet Portfolio Solutions Inc. lifted its holdings in Direxion NASDAQ-100 Equal Weighted Index Shares by 3.5% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 3,818 shares of the company’s stock worth $339,000 after buying an additional 129 shares during the last quarter. Beck Capital Management LLC boosted its holdings in Direxion NASDAQ-100 Equal Weighted Index Shares by 0.7% in the third quarter. Beck Capital Management LLC now owns 21,772 shares of the company’s stock worth $1,964,000 after purchasing an additional 158 shares during the period. SOL Capital Management CO raised its stake in Direxion NASDAQ-100 Equal Weighted Index Shares by 0.4% during the third quarter. SOL Capital Management CO now owns 58,310 shares of the company’s stock worth $5,260,000 after acquiring an additional 205 shares during the period. Finally, Banque Cantonale Vaudoise lifted its holdings in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 25.9% in the 2nd quarter. Banque Cantonale Vaudoise now owns 1,199 shares of the company’s stock worth $106,000 after purchasing an additional 247 shares during the last quarter.

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.