Watershed Asset Management L.L.C. Cuts Stock Holdings in Direxion NASDAQ-100 Equal Weighted Index Shares $QQQE

Key Points

• Watershed Asset Management cut its stake in Direxion NASDAQ-100 Equal Weighted Index Shares by 82.7% in the first quarter, selling 96,500 shares and leaving it with 20,200 shares valued at about $1.99 million.
• Several other hedge funds also made large moves in QQQE, including new purchases and major increases by firms such as SteelPeak Wealth, Northwestern Mutual Wealth Management, Morgan Stanley, Independent Financial Group, and BNP Paribas Financial Markets.
• Shares of QQQE were down 1.4% to $116.80, while the fund’s latest quarterly dividend was $0.1895 per share, or about $0.76 annually, for a yield of 0.6%.

Watershed Asset Management L.L.C. lowered its holdings in Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE - Free Report) by 82.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 20,200 shares of the company's stock after selling 96,500 shares during the quarter. Direxion NASDAQ-100 Equal Weighted Index Shares makes up 2.1% of Watershed Asset Management L.L.C.'s portfolio, making the stock its 15th biggest position. Watershed Asset Management L.L.C. owned 0.18% of Direxion NASDAQ-100 Equal Weighted Index Shares worth $1,990,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. SteelPeak Wealth LLC purchased a new position in Direxion NASDAQ-100 Equal Weighted Index Shares during the fourth quarter valued at approximately $56,917,000. Northwestern Mutual Wealth Management Co. lifted its holdings in Direxion NASDAQ-100 Equal Weighted Index Shares by 865.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 525,272 shares of the company's stock worth $53,741,000 after buying an additional 470,880 shares during the period. Morgan Stanley boosted its position in Direxion NASDAQ-100 Equal Weighted Index Shares by 40.4% during the 4th quarter. Morgan Stanley now owns 695,869 shares of the company's stock valued at $71,195,000 after acquiring an additional 200,167 shares in the last quarter. Independent Financial Group LLC bought a new stake in Direxion NASDAQ-100 Equal Weighted Index Shares during the 1st quarter valued at $11,817,000. Finally, BNP Paribas Financial Markets increased its holdings in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 98.6% in the 2nd quarter. BNP Paribas Financial Markets now owns 201,400 shares of the company's stock valued at $19,800,000 after acquiring an additional 100,000 shares during the period.

Direxion NASDAQ-100 Equal Weighted Index Shares Trading Down 1.4%

Shares of NASDAQ:QQQE opened at $116.80 on Friday. The company has a market capitalization of $1.35 billion, a PE ratio of 27.96 and a beta of 1.08. Direxion NASDAQ-100 Equal Weighted Index Shares has a 12-month low of $95.64 and a 12-month high of $123.26. The business's fifty day simple moving average is $118.35 and its 200-day simple moving average is $108.68.

Direxion NASDAQ-100 Equal Weighted Index Shares Dividend Announcement

The business also recently disclosed 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 of this dividend 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).

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