Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) Hits New 12-Month High – Should You Buy?

Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $114.60 and last traded at $114.35, with a volume of 27140 shares trading hands. The stock had previously closed at $112.65.

Direxion NASDAQ-100 Equal Weighted Index Shares Trading Up 1.0%

The firm has a market capitalization of $1.31 billion, a P/E ratio of 27.96 and a beta of 1.08. The stock has a 50-day simple moving average of $105.22 and a two-hundred day simple moving average of $103.74.

Direxion NASDAQ-100 Equal Weighted Index Shares Cuts Dividend

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

Institutional Trading of Direxion NASDAQ-100 Equal Weighted Index Shares

A number of institutional investors have recently bought and sold shares of QQQE. Miller Global Investments LLC purchased a new stake in Direxion NASDAQ-100 Equal Weighted Index Shares during the 4th quarter valued at about $57,000. Assetmark Inc. acquired a new stake in Direxion NASDAQ-100 Equal Weighted Index Shares during the 4th quarter valued at approximately $63,000. Optiver Holding B.V. purchased a new stake in shares of Direxion NASDAQ-100 Equal Weighted Index Shares in the 3rd quarter valued at $66,000. Pittenger & Anderson Inc. purchased a new stake in shares of Direxion NASDAQ-100 Equal Weighted Index Shares in the 4th quarter valued at $75,000. Finally, PNC Financial Services Group Inc. acquired a new stake in shares of Direxion NASDAQ-100 Equal Weighted Index Shares in the first quarter worth $89,000.

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.