Frisch Financial Group Inc. Sells 105,191 Shares of Direxion NASDAQ-100 Equal Weighted Index Shares $QQQE

Key Points

• Frisch Financial Group Inc. reduced its stake in Direxion NASDAQ-100 Equal Weighted Index Shares by 58.6% in the first quarter, selling 105,191 shares and leaving it with 74,429 shares worth about $7.33 million.
• Several other institutional investors also made notable moves in QQQE, including JPMorgan Chase significantly increasing its position and Northwestern Mutual Wealth Management boosting its stake sharply.
• The ETF opened at $118.42, near its 50-day average of $118.30, and recently paid a quarterly dividend of $0.1895 per share, equal to an annualized yield of about 0.6%.

Frisch Financial Group Inc. cut its holdings in shares of Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE - Free Report) by 58.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 74,429 shares of the company's stock after selling 105,191 shares during the quarter. Direxion NASDAQ-100 Equal Weighted Index Shares comprises 1.5% of Frisch Financial Group Inc.'s investment portfolio, making the stock its 19th largest holding. Frisch Financial Group Inc. owned approximately 0.66% of Direxion NASDAQ-100 Equal Weighted Index Shares worth $7,333,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. JPMorgan Chase & Co. grew its position in Direxion NASDAQ-100 Equal Weighted Index Shares by 13,007.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 19,661 shares of the company's stock worth $1,998,000 after purchasing an additional 19,511 shares during the last quarter. IMC Chicago LLC acquired a new position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares during the first quarter valued at about $956,000. SteelPeak Wealth LLC acquired a new position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares during the fourth quarter valued at about $56,917,000. Ballast Rock Private Wealth LLC bought a new stake in shares of Direxion NASDAQ-100 Equal Weighted Index Shares in the fourth quarter valued at about $574,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 865.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 525,272 shares of the company's stock valued at $53,741,000 after buying an additional 470,880 shares during the period.

Direxion NASDAQ-100 Equal Weighted Index Shares Stock Down 0.3%

QQQE stock opened at $118.42 on Friday. Direxion NASDAQ-100 Equal Weighted Index Shares has a twelve month low of $95.64 and a twelve month high of $123.26. The company has a market cap of $1.37 billion, a PE ratio of 27.96 and a beta of 1.08. The business's 50-day simple moving average is $118.30 and its 200 day simple moving average is $108.62.

Direxion NASDAQ-100 Equal Weighted Index Shares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd were given a $0.1895 dividend. The ex-dividend date was Tuesday, June 23rd. This represents a $0.76 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.

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