Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) Reaches New 52-Week High - Still a Buy?

Key Points

• The Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) reached a new 52-week high at $101.16 during trading, with a market cap of $1.27 billion.
• Investors received a quarterly dividend of $0.1422 per share, which represents a significant increase from the previous dividend of $0.06, yielding 0.6% annually.
• Several institutional investors, including Simplex Trading LLC and Harel Insurance Investments, have recently made substantial investments in shares of QQQE.

Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE - Get Free Report)'s share price hit a new 52-week high during trading on Thursday . The company traded as high as $101.07 and last traded at $101.16, with a volume of 13981 shares traded. The stock had previously closed at $99.76.

Direxion NASDAQ-100 Equal Weighted Index Shares Price Performance

The business's 50 day moving average price is $98.66 and its 200-day moving average price is $93.60. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of 27.96 and a beta of 1.05.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. increased its position in Direxion NASDAQ-100 Equal Weighted Index Shares by 26.7% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 41,663 shares of the company's stock worth $3,633,000 after purchasing an additional 8,787 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares during the 4th quarter valued at approximately $305,000. LeConte Wealth Management LLC acquired a new stake in shares of Direxion NASDAQ-100 Equal Weighted Index Shares during the 1st quarter valued at approximately $10,162,000. LifeWealth Investments LLC raised its position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 57.4% during the 1st quarter. LifeWealth Investments LLC now owns 12,962 shares of the company's stock valued at $1,130,000 after acquiring an additional 4,729 shares in the last quarter. Finally, Key Financial Inc bought a new stake in Direxion NASDAQ-100 Equal Weighted Index Shares in the first quarter valued at $405,000.

About Direxion NASDAQ-100 Equal Weighted Index Shares

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.