Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) Hits New 1-Year High – Should You Buy?

Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) shares reached a new 52-week high on Monday . The company traded as high as $92.38 and last traded at $92.34, with a volume of 2962 shares traded. The stock had previously closed at $91.82.

Direxion NASDAQ-100 Equal Weighted Index Shares Stock Up 0.6 %

The company has a market cap of $1.26 billion, a price-to-earnings ratio of 28.84 and a beta of 1.05. The stock has a fifty day moving average price of $88.21 and a two-hundred day moving average price of $87.87.

Direxion NASDAQ-100 Equal Weighted Index Shares Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 24th were paid a $0.1602 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend was Tuesday, September 24th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Montag A & Associates Inc. acquired a new position in Direxion NASDAQ-100 Equal Weighted Index Shares in the first quarter valued at about $26,000. Goodman Advisory Group LLC acquired a new position in Direxion NASDAQ-100 Equal Weighted Index Shares in the second quarter valued at about $54,000. Beaird Harris Wealth Management LLC acquired a new position in Direxion NASDAQ-100 Equal Weighted Index Shares in the second quarter valued at about $55,000. Banque Cantonale Vaudoise acquired a new position in Direxion NASDAQ-100 Equal Weighted Index Shares in the first quarter valued at about $85,000. Finally, CWM LLC raised its stake in Direxion NASDAQ-100 Equal Weighted Index Shares by 11.1% in the second quarter. CWM LLC now owns 1,312 shares of the company’s stock valued at $116,000 after purchasing an additional 131 shares in the last quarter.

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.