LeConte Wealth Management LLC Makes New $10.16 Million Investment 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 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 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 accounts for about 6.5% of LeConte Wealth Management LLC's investment portfolio, making the stock its 7th biggest position. LeConte Wealth Management LLC owned approximately 0.95% of Direxion NASDAQ-100 Equal Weighted Index Shares at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of 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 valued at $27,000 after purchasing an additional 300 shares during the period. Heck Capital Advisors LLC acquired a new position in Direxion NASDAQ-100 Equal Weighted Index Shares in the 4th quarter valued at about $43,000. American Capital Advisory LLC acquired a new position in Direxion NASDAQ-100 Equal Weighted Index Shares in the 1st quarter valued at about $46,000. BridgePort Financial Solutions LLC acquired a new position in Direxion NASDAQ-100 Equal Weighted Index Shares in the 4th quarter valued at about $207,000. Finally, Focus Partners Advisor Solutions LLC acquired a new position in Direxion NASDAQ-100 Equal Weighted Index Shares in the 4th quarter valued at about $212,000.

Direxion NASDAQ-100 Equal Weighted Index Shares Stock Up 1.8%

QQQE stock traded up $1.7440 during trading on Friday, hitting $98.9640. The company had a trading volume of 385,686 shares, compared to its average volume of 201,868. The firm has a market cap of $1.25 billion, a PE ratio of 27.96 and a beta of 1.05. Direxion NASDAQ-100 Equal Weighted Index Shares has a 1-year low of $75.07 and a 1-year high of $100.94. The firm has a 50-day moving average price of $98.13 and a 200-day moving average price of $93.04.

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 given a $0.1422 dividend. This is a boost from Direxion NASDAQ-100 Equal Weighted Index Shares's previous quarterly dividend of $0.06. The ex-dividend date was Tuesday, June 24th. This represents a $0.57 annualized dividend and a 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.