Total Investment Management Inc. Buys 33,237 Shares of Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE)

Key Points

• Total Investment Management Inc. increased its stake in Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE) by 4.9%, owning a total of 718,322 shares valued at approximately $62.6 million.
• The company recently declared a quarterly dividend of $0.1422 per share, reflecting a positive increase from the previous dividend of $0.06.
• Direxion NASDAQ-100 Equal Weighted Index Shares has seen a share price increase of 1.6% and currently trades around $98.39.

Total Investment Management Inc. grew its stake in Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE - Free Report) by 4.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 718,322 shares of the company's stock after purchasing an additional 33,237 shares during the period. Direxion NASDAQ-100 Equal Weighted Index Shares makes up approximately 8.2% of Total Investment Management Inc.'s portfolio, making the stock its 7th biggest holding. Total Investment Management Inc. owned about 5.21% of Direxion NASDAQ-100 Equal Weighted Index Shares worth $62,630,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of QQQE. Bank of America Corp DE boosted its stake in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 65.3% in the fourth quarter. Bank of America Corp DE now owns 906,043 shares of the company's stock valued at $81,335,000 after buying an additional 357,895 shares in the last quarter. Royal Bank of Canada boosted its stake 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 valued at $37,873,000 after buying an additional 8,600 shares in the last quarter. PKO Investment Management Joint Stock Co purchased a new stake in shares of Direxion NASDAQ-100 Equal Weighted Index Shares in the fourth quarter valued at approximately $37,703,000. Waddell & Associates LLC boosted its stake in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 1.0% in the first quarter. Waddell & Associates LLC now owns 386,838 shares of the company's stock valued at $33,728,000 after buying an additional 3,845 shares in the last quarter. Finally, LPL Financial LLC boosted its stake in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 20.6% in the first quarter. LPL Financial LLC now owns 317,160 shares of the company's stock valued at $27,653,000 after buying an additional 54,238 shares in the last quarter.

Direxion NASDAQ-100 Equal Weighted Index Shares Price Performance

Direxion NASDAQ-100 Equal Weighted Index Shares stock traded up $0.39 during trading hours on Wednesday, hitting $97.97. The stock had a trading volume of 93,691 shares, compared to its average volume of 206,492. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of 27.96 and a beta of 1.05. Direxion NASDAQ-100 Equal Weighted Index Shares has a 1-year low of $75.07 and a 1-year high of $100.94. The stock's fifty day moving average is $97.52 and its two-hundred day moving average is $92.71.

Direxion NASDAQ-100 Equal Weighted Index Shares Increases Dividend

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

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.