Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) Reaches New 52-Week High – Time to Buy?

Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $97.98 and last traded at $97.98, with a volume of 415005 shares trading hands. The stock had previously closed at $96.81.

Direxion NASDAQ-100 Equal Weighted Index Shares Stock Down 0.5 %

The business has a 50 day simple moving average of $93.13 and a 200 day simple moving average of $91.31. The company has a market capitalization of $1.36 billion, a PE ratio of 28.84 and a beta of 1.05.

Direxion NASDAQ-100 Equal Weighted Index Shares Dividend Announcement

The firm also recently declared a dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid a $0.2402 dividend. The ex-dividend date was Monday, December 23rd.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in QQQE. Total Investment Management Inc. purchased a new stake in Direxion NASDAQ-100 Equal Weighted Index Shares in the third quarter valued at about $59,630,000. Bank of America Corp DE raised its stake in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 65.3% in the fourth quarter. Bank of America Corp DE now owns 906,043 shares of the company’s stock worth $81,335,000 after purchasing an additional 357,895 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 8,495.2% in the third 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. Polar Asset Management Partners Inc. purchased a new position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares in the fourth quarter worth about $14,938,000. Finally, BNP Paribas Financial Markets purchased a new position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares in the third quarter worth about $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.