Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) Sees Strong Trading Volume – Time to Buy?

Shares of Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) saw an uptick in trading volume on Thursday . 212,234 shares were traded during mid-day trading, a decline of 14% from the previous session’s volume of 247,814 shares.The stock last traded at $91.06 and had previously closed at $90.96.

Direxion NASDAQ-100 Equal Weighted Index Shares Stock Performance

The stock’s 50-day simple moving average is $92.76 and its two-hundred day simple moving average is $89.96. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of 28.84 and a beta of 1.05.

Direxion NASDAQ-100 Equal Weighted Index Shares Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 24th were given a dividend of $0.1602 per share. The ex-dividend date of this dividend was Tuesday, September 24th. This represents a $0.64 annualized dividend and a dividend yield of 0.70%.

Institutional Investors Weigh In On Direxion NASDAQ-100 Equal Weighted Index Shares

Hedge funds have recently modified their holdings of the business. Total Investment Management Inc. bought a new position in Direxion NASDAQ-100 Equal Weighted Index Shares during the third quarter valued at about $59,630,000. Waddell & Associates LLC increased its holdings in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 3.3% in the third quarter. Waddell & Associates LLC now owns 374,445 shares of the company’s stock valued at $33,775,000 after purchasing an additional 12,033 shares in the last quarter. International Assets Investment Management LLC raised its position in Direxion NASDAQ-100 Equal Weighted Index Shares by 8,495.2% in the 3rd quarter. International Assets Investment Management LLC now owns 306,935 shares of the company’s stock worth $27,686,000 after purchasing an additional 303,364 shares during the last quarter. Frisch Financial Group Inc. lifted its holdings in Direxion NASDAQ-100 Equal Weighted Index Shares by 4.5% during the 3rd quarter. Frisch Financial Group Inc. now owns 189,415 shares of the company’s stock worth $17,116,000 after buying an additional 8,099 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Direxion NASDAQ-100 Equal Weighted Index Shares in the 3rd quarter valued at $13,530,000.

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.