Cannon Advisors Inc. Acquires 2,898 Shares of Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE)

Cannon Advisors Inc. boosted its holdings in shares of Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE - Free Report) by 7.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,736 shares of the company's stock after purchasing an additional 2,898 shares during the period. Direxion NASDAQ-100 Equal Weighted Index Shares comprises 3.0% of Cannon Advisors Inc.'s portfolio, making the stock its 12th biggest holding. Cannon Advisors Inc. owned about 0.28% of Direxion NASDAQ-100 Equal Weighted Index Shares worth $3,567,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Total Investment Management Inc. lifted its position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 3.6% during the 4th quarter. Total Investment Management Inc. now owns 685,085 shares of the company's stock worth $61,500,000 after buying an additional 24,002 shares during the period. LPL Financial LLC lifted its holdings in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 2.0% during the fourth quarter. LPL Financial LLC now owns 262,922 shares of the company's stock valued at $23,603,000 after acquiring an additional 5,090 shares during the period. Frisch Financial Group Inc. boosted its stake in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 4.5% in the 3rd quarter. Frisch Financial Group Inc. now owns 189,415 shares of the company's stock valued at $17,116,000 after purchasing an additional 8,099 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in shares of Direxion NASDAQ-100 Equal Weighted Index Shares in the 3rd quarter worth about $13,530,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Direxion NASDAQ-100 Equal Weighted Index Shares during the 4th quarter worth about $9,261,000.

Direxion NASDAQ-100 Equal Weighted Index Shares Trading Down 6.3 %

QQQE stock traded down $5.26 during trading on Friday, hitting $78.66. 659,912 shares of the stock traded hands, compared to its average volume of 271,684. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of 26.69 and a beta of 1.05. Direxion NASDAQ-100 Equal Weighted Index Shares has a one year low of $78.58 and a one year high of $97.98. The company has a 50 day simple moving average of $91.70 and a 200 day simple moving average of $91.83.

Direxion NASDAQ-100 Equal Weighted Index Shares Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 25th were paid a $0.0614 dividend. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date of this dividend was Tuesday, March 25th.

Direxion NASDAQ-100 Equal Weighted Index Shares 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.