Ameriprise Financial Inc. Has $54.54 Million Stake in Direxion NASDAQ-100 Equal Weighted Index Shares $QQQE

Key Points

• Ameriprise Financial Inc. increased its stake in Direxion NASDAQ-100 Equal Weighted Index Shares ($QQQE) by 0.6%, now owning about 5.09% of the ETF, valued at approximately $54.5 million.
• The fund has recently raised its quarterly dividend to $0.1422, reflecting an annualized dividend of $0.57 and a yield of 0.6%, up from the previous quarterly dividend of $0.06.
• Shares of $QQQE are currently priced at $98.42, with a market cap of $1.24 billion, and have experienced a fifty-two week trading range between $75.07 and $100.94.

Ameriprise Financial Inc. boosted its holdings in shares of Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE - Free Report) by 0.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 625,583 shares of the company's stock after purchasing an additional 3,853 shares during the period. Ameriprise Financial Inc. owned about 5.09% of Direxion NASDAQ-100 Equal Weighted Index Shares worth $54,541,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in QQQE. PKO Investment Management Joint Stock Co bought a new stake in Direxion NASDAQ-100 Equal Weighted Index Shares during the fourth quarter worth $37,703,000. Bank of America Corp DE lifted its stake in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 65.3% in the 4th quarter. Bank of America Corp DE now owns 906,043 shares of the company's stock valued at $81,335,000 after acquiring an additional 357,895 shares during the last quarter. Polar Asset Management Partners Inc. bought a new position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares in the 4th quarter valued at $14,938,000. LeConte Wealth Management LLC bought a new position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares in the 1st quarter valued at $10,162,000. Finally, Frisch Financial Group Inc. lifted its stake in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 38.2% in the 1st quarter. Frisch Financial Group Inc. now owns 240,535 shares of the company's stock valued at $20,972,000 after acquiring an additional 66,538 shares during the last quarter.

Direxion NASDAQ-100 Equal Weighted Index Shares Stock Performance

Shares of QQQE traded down $0.73 during trading hours on Monday, reaching $98.05. The stock had a trading volume of 74,166 shares, compared to its average volume of 200,621. Direxion NASDAQ-100 Equal Weighted Index Shares has a 12 month low of $75.07 and a 12 month high of $100.94. The stock has a market capitalization of $1.24 billion, a PE ratio of 27.96 and a beta of 1.05. The company's 50-day moving average is $98.51 and its two-hundred day moving average is $93.13.

Direxion NASDAQ-100 Equal Weighted Index Shares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Tuesday, June 24th were issued a $0.1422 dividend. The ex-dividend date was Tuesday, June 24th. This is a positive change from Direxion NASDAQ-100 Equal Weighted Index Shares's previous quarterly dividend of $0.06. This represents a $0.57 dividend on an annualized basis and a yield of 0.6%.

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.