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

Shares of Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $107.09 and last traded at $107.03, with a volume of 84071 shares changing hands. The stock had previously closed at $106.66.

Direxion NASDAQ-100 Equal Weighted Index Shares Price Performance

The firm has a market cap of $1.25 billion, a price-to-earnings ratio of 27.96 and a beta of 1.07. The firm’s fifty day moving average is $101.79 and its 200-day moving average is $102.53.

Direxion NASDAQ-100 Equal Weighted Index Shares Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 24th were issued a $0.1627 dividend. The ex-dividend date was Tuesday, March 24th. This represents a $0.65 annualized dividend and a yield of 0.6%.

Hedge Funds Weigh In On Direxion NASDAQ-100 Equal Weighted Index Shares

Institutional investors have recently made changes to their positions in the stock. Waddell & Associates LLC raised its holdings in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 3.2% during the third quarter. Waddell & Associates LLC now owns 407,902 shares of the company’s stock valued at $41,447,000 after purchasing an additional 12,839 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 13,007.3% during the third quarter. JPMorgan Chase & Co. now owns 19,661 shares of the company’s stock valued at $1,998,000 after purchasing an additional 19,511 shares during the period. CWM LLC raised its holdings in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 91.3% during the third quarter. CWM LLC now owns 25,537 shares of the company’s stock valued at $2,595,000 after purchasing an additional 12,188 shares during the period. SteelPeak Wealth LLC acquired a new position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares during the fourth quarter valued at about $56,917,000. Finally, Osaic Holdings Inc. raised its holdings in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 27.8% during the second quarter. Osaic Holdings Inc. now owns 39,139 shares of the company’s stock valued at $3,850,000 after purchasing an additional 8,519 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.