Independent Financial Group LLC Purchases Shares of 119,932 Direxion NASDAQ-100 Equal Weighted Index Shares $QQQE

Key Points

• Independent Financial Group LLC opened a new position in Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE) in the first quarter, buying 119,932 shares worth about $11.8 million. The stake represented 1.07% of the fund’s shares outstanding in its latest filing.
• Several other institutions also added to or initiated positions in QQQE, including Wells Fargo & Company MN, which boosted holdings by 383.3%, and American Capital Advisory LLC, which increased its stake by 15.5%. This points to continued institutional interest in the ETF.
• QQQE was trading around $118.42, near its 50-day average of $118.30 and below its 52-week high of $123.26. The fund also recently paid a quarterly dividend of $0.1895 per share, equal to an annualized yield of about 0.6%.

Independent Financial Group LLC acquired a new stake in shares of Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 119,932 shares of the company's stock, valued at approximately $11,817,000. Independent Financial Group LLC owned 1.07% of Direxion NASDAQ-100 Equal Weighted Index Shares as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in QQQE. Miller Global Investments LLC bought a new position in Direxion NASDAQ-100 Equal Weighted Index Shares during the 4th quarter valued at about $57,000. Assetmark Inc. acquired a new position in Direxion NASDAQ-100 Equal Weighted Index Shares in the fourth quarter valued at about $63,000. Pittenger & Anderson Inc. bought a new stake in Direxion NASDAQ-100 Equal Weighted Index Shares during the fourth quarter worth about $75,000. American Capital Advisory LLC grew its stake in Direxion NASDAQ-100 Equal Weighted Index Shares by 15.5% during the fourth quarter. American Capital Advisory LLC now owns 1,496 shares of the company's stock worth $153,000 after buying an additional 201 shares during the last quarter. Finally, Wells Fargo & Company MN increased its holdings in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 383.3% during the fourth quarter. Wells Fargo & Company MN now owns 1,677 shares of the company's stock worth $172,000 after buying an additional 1,330 shares in the last quarter.

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

NASDAQ QQQE opened at $118.42 on Friday. Direxion NASDAQ-100 Equal Weighted Index Shares has a 1-year low of $95.64 and a 1-year high of $123.26. The company has a 50 day moving average of $118.30 and a 200-day moving average of $108.62. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of 27.96 and a beta of 1.08.

Direxion NASDAQ-100 Equal Weighted Index Shares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd were given a dividend of $0.1895 per share. The ex-dividend date was Tuesday, June 23rd. This represents a $0.76 dividend on an annualized basis and a yield of 0.6%.

Direxion NASDAQ-100 Equal Weighted Index Shares 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.

Want to see what other hedge funds are holding QQQE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.