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

Key Points

• Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE) hit a new 52-week high of $109.09 (last $108.91) on Thursday with about 25,628 shares traded.
• The ETF trades near its 50- and 200-day moving averages (around $102.4), has a market capitalization of $1.22 billion, a price-to-earnings ratio of 27.96, and a beta of 1.07.
• QQQE paid a quarterly dividend of $0.1627 (annualized $0.65, 0.6% yield) and experienced notable institutional inflows, including sizable holdings by Ameriprise and a 100,000-share increase by BNP Paribas.

Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE - )'s stock price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $109.09 and last traded at $108.91, with a volume of 25628 shares changing hands. The stock had previously closed at $107.99.

Direxion NASDAQ-100 Equal Weighted Index Shares Stock Performance

The business's 50 day moving average is $102.43 and its 200-day moving average is $102.76. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of 27.96 and a beta of 1.07.

Direxion NASDAQ-100 Equal Weighted Index Shares Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 24th were paid a $0.1627 dividend. The ex-dividend date was Tuesday, March 24th. This represents a $0.65 dividend on an annualized basis and a yield of 0.6%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of QQQE. First Trust Advisors LP bought a new stake in Direxion NASDAQ-100 Equal Weighted Index Shares in the 2nd quarter valued at $413,000. Florida Financial Advisors LLC raised its position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 6.7% during the second quarter. Florida Financial Advisors LLC now owns 4,014 shares of the company's stock valued at $396,000 after buying an additional 253 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 0.9% during the second quarter. Ameriprise Financial Inc. now owns 631,319 shares of the company's stock valued at $62,072,000 after buying an additional 5,736 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 98.6% during the second quarter. BNP Paribas Financial Markets now owns 201,400 shares of the company's stock valued at $19,800,000 after buying an additional 100,000 shares during the last quarter. Finally, IHT Wealth Management LLC acquired a new position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares during the second quarter valued at about $475,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.