Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) Sees Large Volume Increase Following Dividend Announcement

Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) saw an uptick in trading volume on Monday following a dividend announcement from the company. 307,834 shares were traded during mid-day trading, an increase of 26% from the previous session’s volume of 245,164 shares.The stock last traded at $89.64 and had previously closed at $89.48.

The newly announced dividend which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 24th will be given a $0.1602 dividend. The ex-dividend date of this dividend is Tuesday, September 24th. This represents a $0.64 dividend on an annualized basis and a yield of 0.72%.

Direxion NASDAQ-100 Equal Weighted Index Shares Stock Down 0.3 %

The stock has a market capitalization of $1.39 billion, a PE ratio of 28.84 and a beta of 1.05. The business’s 50-day moving average is $87.60 and its two-hundred day moving average is $87.71.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Truist Financial Corp increased its stake in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 14.9% during the second quarter. Truist Financial Corp now owns 32,513 shares of the company’s stock worth $2,885,000 after acquiring an additional 4,214 shares during the period. B. Riley Wealth Advisors Inc. increased its stake in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 555.2% during the second quarter. B. Riley Wealth Advisors Inc. now owns 40,874 shares of the company’s stock worth $3,634,000 after acquiring an additional 34,636 shares during the period. Gateway Wealth Partners LLC increased its stake in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 5.3% during the second quarter. Gateway Wealth Partners LLC now owns 20,134 shares of the company’s stock worth $1,787,000 after acquiring an additional 1,021 shares during the period. Regal Investment Advisors LLC increased its stake in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 4.0% during the second quarter. Regal Investment Advisors LLC now owns 9,381 shares of the company’s stock worth $832,000 after acquiring an additional 360 shares during the period. Finally, Goodman Advisory Group LLC acquired a new position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares during the second quarter worth about $54,000.

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.