Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) Trading Down 0% - Here's What Happened

Key Points

• QQQE shares were essentially flat Wednesday, last trading at $119.88 after moving as low as $119.39. Trading volume was 148,324 shares, about 35% below the average session volume.
• The ETF paid a quarterly dividend of $0.1895 per share, equivalent to approximately $0.76 annually and a 0.6% dividend yield.
• Several major institutional investors increased their positions, including Morgan Stanley, which raised its stake by 40.4%, and Northwestern Mutual Wealth Management, which increased its holdings by 865.7%.

Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE - ) shares fell 0% on Wednesday . The stock traded as low as $119.39 and last traded at $119.88. 148,324 shares changed hands during trading, a decline of 35% from the average session volume of 227,505 shares. The stock had previously closed at $119.90.

Direxion NASDAQ-100 Equal Weighted Index Shares Price Performance

The stock's fifty day simple moving average is $120.21 and its 200-day simple moving average is $112.57. The stock has a market cap of $1.36 billion, a P/E ratio of 27.96 and a beta of 1.08.

Direxion NASDAQ-100 Equal Weighted Index Shares Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE increased its position in Direxion NASDAQ-100 Equal Weighted Index Shares by 13.6% in the first quarter. Bank of America Corp DE now owns 724,041 shares of the company's stock worth $71,340,000 after buying an additional 86,683 shares during the period. Morgan Stanley boosted its stake 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 purchasing an additional 200,167 shares during the period. Ameriprise Financial Inc. grew its position in Direxion NASDAQ-100 Equal Weighted Index Shares by 0.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 632,908 shares of the company's stock worth $64,327,000 after purchasing an additional 1,589 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Direxion NASDAQ-100 Equal Weighted Index Shares by 865.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 525,272 shares of the company's stock worth $53,741,000 after purchasing an additional 470,880 shares during the last quarter. Finally, Waddell & Associates LLC increased its stake in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 1.1% in the fourth quarter. Waddell & Associates LLC now owns 412,249 shares of the company's stock valued at $42,177,000 after purchasing an additional 4,347 shares during the period.

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.

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