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

Shares of Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) saw strong trading volume on Tuesday . 84,270 shares traded hands during mid-day trading, a decline of 58% from the previous session’s volume of 200,553 shares.The stock last traded at $90.19 and had previously closed at $89.56.

Direxion NASDAQ-100 Equal Weighted Index Shares Price Performance

The firm has a market capitalization of $1.28 billion, a PE ratio of 28.84 and a beta of 1.05. The business’s 50 day moving average is $92.75 and its two-hundred day moving average is $90.26.

Direxion NASDAQ-100 Equal Weighted Index Shares Dividend Announcement

The business also recently disclosed a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were given a dividend of $0.2402 per share. The ex-dividend date was Monday, December 23rd.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Total Investment Management Inc. bought a new stake in Direxion NASDAQ-100 Equal Weighted Index Shares during the third quarter worth about $59,630,000. Waddell & Associates LLC raised its holdings in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 3.3% during the 3rd quarter. Waddell & Associates LLC now owns 374,445 shares of the company’s stock valued at $33,775,000 after buying an additional 12,033 shares in the last quarter. International Assets Investment Management LLC lifted 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 buying an additional 303,364 shares during the last quarter. Frisch Financial Group Inc. boosted its stake in Direxion NASDAQ-100 Equal Weighted Index Shares by 4.5% in the third 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 purchased a new stake in Direxion NASDAQ-100 Equal Weighted Index Shares in the third quarter worth approximately $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.