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

Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE - Get Free Report) reached a new 52-week high during trading on Thursday . The stock traded as high as $98.71 and last traded at $98.71, with a volume of 51666 shares changing hands. The stock had previously closed at $98.35.

Direxion NASDAQ-100 Equal Weighted Index Shares Price Performance

The firm has a market capitalization of $1.24 billion, a PE ratio of 27.96 and a beta of 1.05. The company's fifty day simple moving average is $94.16 and its 200 day simple moving average is $91.44.

Direxion NASDAQ-100 Equal Weighted Index Shares Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 24th were issued a dividend of $0.1422 per share. The ex-dividend date of this dividend was Tuesday, June 24th. This is an increase from Direxion NASDAQ-100 Equal Weighted Index Shares's previous quarterly dividend of $0.06. This represents a $0.57 annualized dividend and a yield of 0.57%.

Institutional Investors Weigh In On Direxion NASDAQ-100 Equal Weighted Index Shares

Several institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE lifted its holdings in Direxion NASDAQ-100 Equal Weighted Index Shares by 65.3% during the fourth quarter. Bank of America Corp DE now owns 906,043 shares of the company's stock valued at $81,335,000 after purchasing an additional 357,895 shares during the last quarter. Total Investment Management Inc. lifted its holdings in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 4.9% in the first quarter. Total Investment Management Inc. now owns 718,322 shares of the company's stock worth $62,630,000 after buying an additional 33,237 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 0.6% in the first quarter. Ameriprise Financial Inc. now owns 625,583 shares of the company's stock worth $54,541,000 after buying an additional 3,853 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 2.1% in the fourth quarter. Royal Bank of Canada now owns 421,882 shares of the company's stock worth $37,873,000 after buying an additional 8,600 shares in the last quarter. Finally, PKO Investment Management Joint Stock Co purchased a new stake in shares of Direxion NASDAQ-100 Equal Weighted Index Shares in the fourth quarter worth about $37,703,000.

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.