Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) Sets New 52-Week High - Should You Buy?

Key Points

• The Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) achieved a new 52-week high at $103.49, with mid-day trading volume of 10,616 shares.
• Institutional interest in QQQE has increased, with firms like LifeWealth Investments LLC and Sowell Financial Services LLC making significant new investments during the first quarter.
• QQQE tracks an equal-weighted version of the NASDAQ-100, allowing for better diversification compared to traditional market-cap weighted indices.

Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE - )'s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $103.33 and last traded at $103.49, with a volume of 10616 shares. The stock had previously closed at $102.76.

Direxion NASDAQ-100 Equal Weighted Index Shares Price Performance

The firm's 50 day moving average price is $99.08 and its 200-day moving average price is $94.51. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of 27.96 and a beta of 1.05.

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

Several institutional investors and hedge funds have recently bought and sold shares of QQQE. Wealth Enhancement Advisory Services LLC bought a new stake in Direxion NASDAQ-100 Equal Weighted Index Shares in the 4th quarter valued at $305,000. Sowell Financial Services LLC bought a new stake in Direxion NASDAQ-100 Equal Weighted Index Shares in the 1st quarter valued at $728,000. DHJJ Financial Advisors Ltd. increased its holdings in Direxion NASDAQ-100 Equal Weighted Index Shares by 8.3% in the 1st quarter. DHJJ Financial Advisors Ltd. now owns 3,701 shares of the company's stock valued at $323,000 after buying an additional 284 shares during the period. LifeWealth Investments LLC increased its holdings in Direxion NASDAQ-100 Equal Weighted Index Shares by 57.4% in the 1st quarter. LifeWealth Investments LLC now owns 12,962 shares of the company's stock valued at $1,130,000 after buying an additional 4,729 shares during the period. Finally, White Pine Investment CO boosted its stake in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 7.6% in the 1st quarter. White Pine Investment CO now owns 33,675 shares of the company's stock valued at $2,936,000 after purchasing an additional 2,367 shares in the last quarter.

About Direxion NASDAQ-100 Equal Weighted Index Shares

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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.