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

Key Points

• Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) reached a new 52-week high of $101.45 during trading, closing at $100.88.
• The stock has a market capitalization of $1.27 billion and a P/E ratio of 27.96, with recent trading down 0.4%.
• Several hedge funds, including Simplex Trading LLC and Harel Insurance Investments, have made significant changes to their positions in QQQE recently.

Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE - ) hit a new 52-week high during trading on Wednesday . The company traded as high as $101.45 and last traded at $100.88, with a volume of 148317 shares changing hands. The stock had previously closed at $101.30.

Direxion NASDAQ-100 Equal Weighted Index Shares Trading Down 0.4%

The stock has a market cap of $1.27 billion, a P/E ratio of 27.96 and a beta of 1.05. The firm has a 50-day simple moving average of $98.76 and a two-hundred day simple moving average of $93.73.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Simplex Trading LLC bought a new stake in shares of Direxion NASDAQ-100 Equal Weighted Index Shares in the second quarter valued at approximately $25,000. Harel Insurance Investments & Financial Services Ltd. increased its stake in Direxion NASDAQ-100 Equal Weighted Index Shares by 6,000.0% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 305 shares of the company's stock worth $27,000 after acquiring an additional 300 shares during the period. Goodman Advisory Group LLC acquired a new position in Direxion NASDAQ-100 Equal Weighted Index Shares in the 2nd quarter valued at $29,000. Ancora Advisors LLC lifted its position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 32.5% during the 1st quarter. Ancora Advisors LLC now owns 469 shares of the company's stock valued at $41,000 after acquiring an additional 115 shares during the period. Finally, Heck Capital Advisors LLC acquired a new stake in shares of Direxion NASDAQ-100 Equal Weighted Index Shares during the 4th quarter worth $43,000.

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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