Frisch Financial Group Inc. Has $20.97 Million Stake in Direxion NASDAQ-100 Equal Weighted Index Shares $QQQE

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. raised its stake in Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE - Free Report) by 38.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 240,535 shares of the company's stock after acquiring an additional 66,538 shares during the period. Direxion NASDAQ-100 Equal Weighted Index Shares makes up 5.9% of Frisch Financial Group Inc.'s portfolio, making the stock its 2nd biggest position. Frisch Financial Group Inc. owned approximately 1.96% of Direxion NASDAQ-100 Equal Weighted Index Shares worth $20,972,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently modified their holdings of QQQE. Harel Insurance Investments & Financial Services Ltd. boosted its stake in Direxion NASDAQ-100 Equal Weighted Index Shares by 6,000.0% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 305 shares of the company's stock worth $27,000 after purchasing an additional 300 shares in the last quarter. Heck Capital Advisors LLC bought a new position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares in the fourth quarter worth approximately $43,000. American Capital Advisory LLC purchased a new stake in shares of Direxion NASDAQ-100 Equal Weighted Index Shares during the first quarter valued at approximately $46,000. BridgePort Financial Solutions LLC bought a new stake in shares of Direxion NASDAQ-100 Equal Weighted Index Shares during the fourth quarter valued at approximately $207,000. Finally, Focus Partners Advisor Solutions LLC bought a new stake in shares of Direxion NASDAQ-100 Equal Weighted Index Shares during the fourth quarter valued at approximately $212,000.

Direxion NASDAQ-100 Equal Weighted Index Shares Trading Down 0.6%

QQQE stock traded down $0.5890 during midday trading on Monday, hitting $98.3110. The company's stock had a trading volume of 222,345 shares, compared to its average volume of 202,731. The firm's 50-day moving average is $98.22 and its 200-day moving average is $93.04. Direxion NASDAQ-100 Equal Weighted Index Shares has a 12 month low of $75.07 and a 12 month high of $100.94. The company has a market cap of $1.24 billion, a PE ratio of 27.96 and a beta of 1.05.

Direxion NASDAQ-100 Equal Weighted Index Shares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.6%.

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.