Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) Sees Large Volume Increase – Time to Buy?

Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) shares saw unusually-strong trading volume on Friday . Approximately 122,590 shares traded hands during mid-day trading, a decline of 50% from the previous session’s volume of 245,473 shares.The stock last traded at $94.75 and had previously closed at $94.97.

Direxion NASDAQ-100 Equal Weighted Index Shares Trading Down 0.4 %

The firm has a 50 day moving average of $92.52 and a two-hundred day moving average of $89.74. The stock has a market capitalization of $1.35 billion, a PE ratio of 28.84 and a beta of 1.05.

Direxion NASDAQ-100 Equal Weighted Index Shares Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 24th were given a $0.1602 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date was Tuesday, September 24th.

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

Several institutional investors and hedge funds have recently made changes to their positions in QQQE. CWM LLC lifted its stake in Direxion NASDAQ-100 Equal Weighted Index Shares by 11.1% in the 2nd quarter. CWM LLC now owns 1,312 shares of the company’s stock valued at $116,000 after buying an additional 131 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 3.5% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 3,818 shares of the company’s stock valued at $339,000 after acquiring an additional 129 shares during the last quarter. Brookstone Capital Management purchased a new stake in Direxion NASDAQ-100 Equal Weighted Index Shares during the 2nd quarter worth about $581,000. CAP Partners LLC raised its stake in Direxion NASDAQ-100 Equal Weighted Index Shares by 2.0% in the 2nd quarter. CAP Partners LLC now owns 52,934 shares of the company’s stock valued at $4,697,000 after purchasing an additional 1,027 shares during the last quarter. Finally, Berkshire Money Management Inc. lifted its holdings in Direxion NASDAQ-100 Equal Weighted Index Shares by 2.5% in the 2nd quarter. Berkshire Money Management Inc. now owns 800,676 shares of the company’s stock valued at $71,052,000 after purchasing an additional 19,819 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.