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

Shares of Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) saw unusually-strong trading volume on Thursday . Approximately 897,120 shares traded hands during trading, an increase of 269% from the previous session’s volume of 243,243 shares.The stock last traded at $93.95 and had previously closed at $92.80.

Direxion NASDAQ-100 Equal Weighted Index Shares Trading Down 0.1 %

The company’s 50 day simple moving average is $89.85 and its 200-day simple moving average is $88.49. The firm has a market cap of $1.34 billion, a P/E ratio of 28.84 and a beta of 1.05.

Direxion NASDAQ-100 Equal Weighted Index Shares Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 24th were paid a dividend of $0.1602 per share. This represents a $0.64 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend was Tuesday, September 24th.

Institutional Trading of Direxion NASDAQ-100 Equal Weighted Index Shares

Several hedge funds have recently modified their holdings of the business. Berkshire Money Management Inc. increased its position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 2.5% in the second quarter. Berkshire Money Management Inc. now owns 800,676 shares of the company’s stock valued at $71,052,000 after buying an additional 19,819 shares in the last quarter. KMG Fiduciary Partners LLC purchased a new position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares in the third quarter valued at $1,964,000. Astor Investment Management LLC purchased a new position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares in the third quarter valued at $7,028,000. B. Riley Wealth Advisors Inc. increased its position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 555.2% in the second quarter. B. Riley Wealth Advisors Inc. now owns 40,874 shares of the company’s stock valued at $3,634,000 after buying an additional 34,636 shares in the last quarter. Finally, International Assets Investment Management LLC increased its position 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 valued at $27,686,000 after buying an additional 303,364 shares in the last quarter.

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.