Royal Bank of Canada Buys 34,755 Shares of Direxion NASDAQ-100 Equal Weighted Index Shares $QQQE

Key Points

• Royal Bank of Canada increased its QQQE stake by 37.6% in the first quarter, adding 34,755 shares to hold 127,223 shares valued at approximately $12.5 million.
• Other institutional investors also raised or initiated positions, including Gateway Wealth Partners, which increased its holdings by 91.7%, and Hollencrest Capital Management, which boosted its stake by 39.3%.
• QQQE was trading at $121.96, near its 12-month high of $123.26, while recently paying a quarterly dividend of $0.1895, equivalent to an annualized yield of about 0.6%.

Royal Bank of Canada raised its stake in Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE - Free Report) by 37.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 127,223 shares of the company's stock after buying an additional 34,755 shares during the period. Royal Bank of Canada owned about 1.14% of Direxion NASDAQ-100 Equal Weighted Index Shares worth $12,536,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Quantinno Capital Management LP bought a new stake in shares of Direxion NASDAQ-100 Equal Weighted Index Shares during the 1st quarter worth $319,000. Gateway Wealth Partners LLC raised its position in Direxion NASDAQ-100 Equal Weighted Index Shares by 91.7% during the first quarter. Gateway Wealth Partners LLC now owns 52,632 shares of the company's stock valued at $5,186,000 after purchasing an additional 25,180 shares in the last quarter. Waverly Advisors LLC raised its position in Direxion NASDAQ-100 Equal Weighted Index Shares by 15.8% during the first quarter. Waverly Advisors LLC now owns 12,608 shares of the company's stock valued at $1,242,000 after purchasing an additional 1,719 shares in the last quarter. PNC Financial Services Group Inc. bought a new stake in Direxion NASDAQ-100 Equal Weighted Index Shares during the first quarter worth about $89,000. Finally, Hollencrest Capital Management lifted its stake in Direxion NASDAQ-100 Equal Weighted Index Shares by 39.3% during the first quarter. Hollencrest Capital Management now owns 1,375 shares of the company's stock worth $135,000 after purchasing an additional 388 shares during the last quarter.

Direxion NASDAQ-100 Equal Weighted Index Shares Trading Up 1.6%

QQQE opened at $121.96 on Friday. The stock has a market capitalization of $1.38 billion, a P/E ratio of 27.96 and a beta of 1.08. The stock has a 50-day moving average price of $119.16 and a 200-day moving average price of $110.15. Direxion NASDAQ-100 Equal Weighted Index Shares has a 12-month low of $95.64 and a 12-month high of $123.26.

Direxion NASDAQ-100 Equal Weighted Index Shares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors 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 yield of 0.6%.

Direxion NASDAQ-100 Equal Weighted Index Shares Company 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).

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