Direxion NASDAQ-100 Equal Weighted Index ETF (NASDAQ:QQQE) Sees Large Decline in Short Interest

Direxion NASDAQ-100 Equal Weighted Index ETF (NASDAQ:QQQE) was the recipient of a large decrease in short interest in the month of October. As of October 15th, there was short interest totaling 483,398 shares, a decrease of 44.4% from the September 30th total of 869,297 shares. Based on an average daily volume of 175,372 shares, the short-interest ratio is currently 2.8 days. Approximately 4.0% of the shares of the company are sold short.

Direxion NASDAQ-100 Equal Weighted Index ETF Price Performance

Shares of QQQE traded down $0.40 on Monday, reaching $115.89. The company’s stock had a trading volume of 143,124 shares, compared to its average volume of 216,164. The stock’s 50 day simple moving average is $119.80 and its two-hundred day simple moving average is $113.10. The stock has a market capitalization of $1.41 billion, a P/E ratio of 27.96 and a beta of 1.09. Direxion NASDAQ-100 Equal Weighted Index ETF has a 12-month low of $95.64 and a 12-month high of $125.00.

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

Several hedge funds and other institutional investors have recently modified their holdings of QQQE. Bank of America Corp DE grew its holdings 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 period. Royal Bank of Canada raised its stake in shares of Direxion NASDAQ-100 Equal Weighted Index ETF by 37.6% in the first quarter. Royal Bank of Canada now owns 127,223 shares of the company’s stock worth $12,536,000 after buying 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 first 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% during the 2nd quarter. MRA Advisory Group now owns 72,715 shares of the company’s stock valued at $8,872,000 after buying an additional 743 shares in the last quarter. Finally, Gateway Wealth Partners LLC lifted its position in shares of Direxion NASDAQ-100 Equal Weighted Index ETF by 91.7% during the 1st quarter. Gateway Wealth Partners LLC now owns 52,632 shares of the company’s stock valued at $5,186,000 after buying an additional 25,180 shares in the last quarter.

About Direxion NASDAQ-100 Equal Weighted Index ETF

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.