Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) Reaches New 1-Year High - Should You Buy?

Key Points

• New 52-week high: QQQE reached an intraday 52-week high of $111.45 (last $111.22) on Wednesday with about 196,652 shares traded, and the stock was up roughly 1%.
• Dividend update: The fund paid a quarterly dividend of $0.1627 (annualized $0.65), implying a ~0.6% yield, with an ex-dividend date of March 24.
• Institutional activity: Multiple institutions increased or initiated stakes—Ameriprise holds 631,319 shares (~$62.1M), BNP Paribas raised its stake by 98.6% (adding ~100,000 shares), and new positions were reported by First Trust and IHT Wealth.

Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE - )'s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $111.45 and last traded at $111.22, with a volume of 196652 shares. The stock had previously closed at $110.15.

Direxion NASDAQ-100 Equal Weighted Index Shares Stock Up 1.0%

The stock's 50-day simple moving average is $102.73 and its 200 day simple moving average is $102.89. The company has a market cap of $1.25 billion, a price-to-earnings ratio of 27.96 and a beta of 1.08.

Direxion NASDAQ-100 Equal Weighted Index Shares Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 24th were issued a $0.1627 dividend. This represents a $0.65 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Tuesday, March 24th.

Institutional Trading of Direxion NASDAQ-100 Equal Weighted Index Shares

Institutional investors have recently added to or reduced their stakes in the stock. First Trust Advisors LP purchased a new position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares during the second quarter worth $413,000. Florida Financial Advisors LLC grew its stake in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 6.7% in 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 in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 0.9% in the 2nd 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 period. BNP Paribas Financial Markets raised its holdings in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 98.6% in the 2nd 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 period. Finally, IHT Wealth Management LLC acquired a new position in Direxion NASDAQ-100 Equal Weighted Index Shares during the 2nd quarter worth 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.

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