Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) Sets New 12-Month Low – What’s Next?

Shares of Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $80.82 and last traded at $81.64, with a volume of 2468 shares trading hands. The stock had previously closed at $83.92.

Direxion NASDAQ-100 Equal Weighted Index Shares Stock Down 6.3 %

The company has a market cap of $1.10 billion, a P/E ratio of 26.69 and a beta of 1.05. The business’s 50 day moving average is $91.70 and its 200 day moving average is $91.83.

Direxion NASDAQ-100 Equal Weighted Index Shares Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 25th were paid a dividend of $0.0614 per share. The ex-dividend date was Tuesday, March 25th. This represents a $0.25 dividend on an annualized basis and a dividend yield of 0.31%.

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

Institutional investors and hedge funds have recently modified their holdings of the company. PKO Investment Management Joint Stock Co purchased a new position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares during the 4th quarter valued at approximately $37,703,000. Bank of America Corp DE grew its position in Direxion NASDAQ-100 Equal Weighted Index Shares by 65.3% in the 4th quarter. Bank of America Corp DE now owns 906,043 shares of the company’s stock valued at $81,335,000 after acquiring an additional 357,895 shares in the last quarter. Polar Asset Management Partners Inc. purchased a new position in Direxion NASDAQ-100 Equal Weighted Index Shares in the 4th quarter valued at approximately $14,938,000. Raymond James Financial Inc. acquired a new stake in Direxion NASDAQ-100 Equal Weighted Index Shares in the 4th quarter valued at about $9,261,000. Finally, BNP Paribas Financial Markets lifted its stake in Direxion NASDAQ-100 Equal Weighted Index Shares by 33.3% in the fourth quarter. BNP Paribas Financial Markets now owns 200,000 shares of the company’s stock worth $17,954,000 after acquiring an additional 50,000 shares during the last quarter.

Direxion NASDAQ-100 Equal Weighted Index Shares Company Profile

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.