Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) Sees Significant Drop in Short Interest

Key Points

• Short interest fell 14.9% to 631,481 shares as of March 31, equal to 5.5% of the float and a days-to-cover of about 2.2 based on average volume.
• Several investors initiated new, small positions in QQQE recently — including Caldwell Trust, Miller Global, Assetmark, Optiver and Pittenger & Anderson — with purchases roughly in the $49k–$75k range.
• The fund paid a quarterly dividend of $0.1627 on March 31 (annualized $0.65), implying a dividend yield of about 0.6%.

Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE - ) was the target of a large decline in short interest in March. As of March 31st, there was short interest totaling 631,481 shares, a decline of 14.9% from the March 15th total of 741,883 shares. Currently, 5.5% of the company's stock are short sold. Based on an average trading volume of 284,626 shares, the days-to-cover ratio is currently 2.2 days.

Hedge Funds Weigh In On Direxion NASDAQ-100 Equal Weighted Index Shares

Large investors have recently made changes to their positions in the business. Caldwell Trust Co purchased a new position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares during the second quarter valued at approximately $49,000. Miller Global Investments LLC purchased a new position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares during the fourth quarter valued at approximately $57,000. Assetmark Inc. purchased a new position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares during the fourth quarter valued at approximately $63,000. Optiver Holding B.V. purchased a new position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares during the third quarter valued at approximately $66,000. Finally, Pittenger & Anderson Inc. purchased a new position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares during the fourth quarter valued at approximately $75,000.

Direxion NASDAQ-100 Equal Weighted Index Shares Trading Up 1.3%

Direxion NASDAQ-100 Equal Weighted Index Shares stock traded up $1.33 during trading hours on Friday, hitting $106.66. 237,077 shares of the stock traded hands, compared to its average volume of 283,387. The firm's 50-day moving average price is $101.55 and its two-hundred day moving average price is $102.43. The company has a market cap of $1.24 billion, a PE ratio of 27.96 and a beta of 1.07. Direxion NASDAQ-100 Equal Weighted Index Shares has a one year low of $79.82 and a one year high of $107.06.

Direxion NASDAQ-100 Equal Weighted Index Shares Cuts Dividend

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

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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