Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) Reaches New 52-Week High - Here's Why

Shares of Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $87.95 and last traded at $87.69, with a volume of 158316 shares traded. The stock had previously closed at $87.58.

Direxion NASDAQ-100 Equal Weighted Index Shares Trading Up 1.9 %

The firm's fifty day moving average is $86.65 and its 200-day moving average is $90.83. The stock has a market capitalization of $1.24 billion, a PE ratio of 25.43 and a beta of 1.05.

Direxion NASDAQ-100 Equal Weighted Index Shares Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 25th were issued a dividend of $0.0614 per share. This represents a $0.25 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date was Tuesday, March 25th.

Hedge Funds 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 business. Retirement Planning Co of New England Inc. raised its holdings in Direxion NASDAQ-100 Equal Weighted Index Shares by 88.0% in the first quarter. Retirement Planning Co of New England Inc. now owns 13,465 shares of the company's stock valued at $1,174,000 after acquiring an additional 6,302 shares in the last quarter. Key Financial Inc acquired a new stake in shares of Direxion NASDAQ-100 Equal Weighted Index Shares in the 1st quarter valued at $405,000. Curtis Advisory Group LLC lifted its position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 20.6% during the 1st quarter. Curtis Advisory Group LLC now owns 18,166 shares of the company's stock worth $1,584,000 after purchasing an additional 3,107 shares during the last quarter. Gateway Wealth Partners LLC grew its stake in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 2.5% during the first quarter. Gateway Wealth Partners LLC now owns 26,068 shares of the company's stock worth $2,273,000 after purchasing an additional 635 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Direxion NASDAQ-100 Equal Weighted Index Shares by 7.1% in the first quarter. Bank of New York Mellon Corp now owns 7,660 shares of the company's stock valued at $668,000 after buying an additional 511 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.