Direxion NASDAQ-100 Equal Weighted Index Shares $QQQE is Frisch Financial Group Inc.'s 2nd Largest Position

Key Points

• Frisch Financial Group Inc. increased its holdings in Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) by 38.2% in the first quarter, making it the firm's second largest position at 5.9% of its portfolio.
• Direxion NASDAQ-100 Equal Weighted Index Shares announced a quarterly dividend increase from $0.06 to $0.1422, resulting in an annualized dividend of $0.57 and a yield of 0.6%.
• The fund has a market capitalization of $1.23 billion, and its stock is currently trading at approximately $97.90, reflecting a 0.5% decline.

Frisch Financial Group Inc. grew its holdings in shares of Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE - Free Report) by 38.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 240,535 shares of the company's stock after buying an additional 66,538 shares during the quarter. Direxion NASDAQ-100 Equal Weighted Index Shares accounts for 5.9% of Frisch Financial Group Inc.'s portfolio, making the stock its 2nd largest position. Frisch Financial Group Inc. owned about 1.96% of Direxion NASDAQ-100 Equal Weighted Index Shares worth $20,972,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 6,000.0% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 305 shares of the company's stock valued at $27,000 after purchasing an additional 300 shares during the period. Heck Capital Advisors LLC purchased a new position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares in the fourth quarter valued at $43,000. American Capital Advisory LLC purchased a new position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares in the first quarter valued at $46,000. BridgePort Financial Solutions LLC purchased a new position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares in the fourth quarter valued at $207,000. Finally, Focus Partners Advisor Solutions LLC purchased a new position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares in the fourth quarter valued at $212,000.

Direxion NASDAQ-100 Equal Weighted Index Shares Trading Down 0.5%

Shares of QQQE stock opened at $97.90 on Wednesday. The company has a market capitalization of $1.23 billion, a PE ratio of 27.96 and a beta of 1.05. The firm has a fifty day simple moving average of $98.09 and a 200-day simple moving average of $92.98. Direxion NASDAQ-100 Equal Weighted Index Shares has a twelve month low of $75.07 and a twelve month high of $100.94.

Direxion NASDAQ-100 Equal Weighted Index Shares Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Tuesday, June 24th were issued a $0.1422 dividend. This is a boost 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 0.6%. 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.

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.