Direxion NASDAQ-100 Equal Weighted Index ETF (NASDAQ:QQQE) Shares Break Below 200 Day Moving Average – What’s Next?

Direxion NASDAQ-100 Equal Weighted Index ETF (NASDAQ:QQQE) shares passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $113.26 and traded as low as $111.41. Direxion NASDAQ-100 Equal Weighted Index ETF shares last traded at $111.51, with a volume of 430,837 shares trading hands.

Direxion NASDAQ-100 Equal Weighted Index ETF Trading Down 5.0%

The company has a market capitalization of $1.37 billion, a PE ratio of 27.96 and a beta of 1.10. The company’s 50 day moving average price is $119.36 and its 200-day moving average price is $113.26.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE increased its stake in Direxion NASDAQ-100 Equal Weighted Index ETF by 13.6% during the first quarter. Bank of America Corp DE now owns 724,041 shares of the company’s stock valued at $71,340,000 after purchasing an additional 86,683 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of Direxion NASDAQ-100 Equal Weighted Index ETF by 37.6% during the first quarter. Royal Bank of Canada now owns 127,223 shares of the company’s stock worth $12,536,000 after purchasing an additional 34,755 shares during the period. Independent Financial Group LLC bought a new position in shares of Direxion NASDAQ-100 Equal Weighted Index ETF in the 1st quarter worth about $11,817,000. MRA Advisory Group lifted its position in shares of Direxion NASDAQ-100 Equal Weighted Index ETF by 1.0% in the 2nd quarter. MRA Advisory Group now owns 72,715 shares of the company’s stock worth $8,872,000 after buying an additional 743 shares during the last quarter. Finally, Gateway Wealth Partners LLC lifted its position in shares of Direxion NASDAQ-100 Equal Weighted Index ETF by 91.7% in the 1st quarter. Gateway Wealth Partners LLC now owns 52,632 shares of the company’s stock worth $5,186,000 after buying an additional 25,180 shares during the last quarter.

Direxion NASDAQ-100 Equal Weighted Index ETF Company Profile

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.