LeConte Wealth Management LLC Invests $10.16 Million in Direxion NASDAQ-100 Equal Weighted Index Shares $QQQE

Key Points

• LeConte Wealth Management LLC acquired a new stake of 116,554 shares in Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) valued at approximately $10.16 million, making it the firm's 7th largest position.
• Direxion NASDAQ-100 Equal Weighted Index Shares recently increased its quarterly dividend to $0.1422 per share, yielding 0.6%, up from the previous $0.06 payout.
• Other large investors, including Renaissance Technologies LLC and Tradition Wealth Management LLC, have also increased their positions in QQQE, reflecting growing institutional interest in the fund.

LeConte Wealth Management LLC bought a new stake in shares of Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 116,554 shares of the company's stock, valued at approximately $10,162,000. Direxion NASDAQ-100 Equal Weighted Index Shares comprises approximately 6.5% of LeConte Wealth Management LLC's investment portfolio, making the stock its 7th biggest holding. LeConte Wealth Management LLC owned approximately 0.95% of Direxion NASDAQ-100 Equal Weighted Index Shares as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC bought a new position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares during the fourth quarter valued at approximately $305,000. Royal Bank of Canada grew its holdings in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 2.1% during the fourth quarter. Royal Bank of Canada now owns 421,882 shares of the company's stock valued at $37,873,000 after purchasing an additional 8,600 shares during the last quarter. LifeWealth Investments LLC grew its holdings in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 57.4% during the first quarter. LifeWealth Investments LLC now owns 12,962 shares of the company's stock valued at $1,130,000 after purchasing an additional 4,729 shares during the last quarter. Key Financial Inc bought a new position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares during the first quarter valued at approximately $405,000. Finally, Cetera Investment Advisers boosted its position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 14.7% during the first quarter. Cetera Investment Advisers now owns 28,926 shares of the company's stock worth $2,522,000 after buying an additional 3,703 shares during the period.

Direxion NASDAQ-100 Equal Weighted Index Shares Price Performance

Shares of NASDAQ QQQE traded down $0.54 during midday trading on Tuesday, hitting $97.90. 156,162 shares of the company's stock were exchanged, compared to its average volume of 201,046. The stock's 50 day moving average price is $98.09 and its 200-day moving average price is $92.98. The firm has a market cap of $1.23 billion, a P/E ratio of 27.96 and a beta of 1.05. 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 firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 24th were given a dividend of $0.1422 per share. 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 dividend yield of 0.6%. The ex-dividend date was Tuesday, June 24th.

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.