Northwestern Mutual Wealth Management Co. Sells 1,836 Shares of Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE)

Northwestern Mutual Wealth Management Co. reduced its stake in shares of Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) by 6.0% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 28,600 shares of the company’s stock after selling 1,836 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Direxion NASDAQ-100 Equal Weighted Index Shares were worth $2,538,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Berkshire Money Management Inc. lifted its stake 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 worth $71,052,000 after buying an additional 19,819 shares during the last quarter. Waddell & Associates LLC lifted its position in Direxion NASDAQ-100 Equal Weighted Index Shares by 1.3% during the 2nd quarter. Waddell & Associates LLC now owns 362,412 shares of the company’s stock worth $32,160,000 after acquiring an additional 4,559 shares during the last quarter. Frisch Financial Group Inc. boosted its holdings in Direxion NASDAQ-100 Equal Weighted Index Shares by 10.8% during the second quarter. Frisch Financial Group Inc. now owns 181,316 shares of the company’s stock valued at $16,090,000 after acquiring an additional 17,674 shares during the period. MRA Advisory Group grew its position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 68.8% in the second quarter. MRA Advisory Group now owns 105,619 shares of the company’s stock valued at $9,373,000 after purchasing an additional 43,058 shares during the last quarter. Finally, Raymond James & Associates increased its stake in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 1.2% in the second quarter. Raymond James & Associates now owns 72,401 shares of the company’s stock worth $6,425,000 after purchasing an additional 888 shares during the period.

Direxion NASDAQ-100 Equal Weighted Index Shares Stock Performance

NASDAQ QQQE opened at $90.19 on Friday. The stock has a 50-day simple moving average of $87.81 and a 200 day simple moving average of $87.81. Direxion NASDAQ-100 Equal Weighted Index Shares has a twelve month low of $70.18 and a twelve month high of $92.06. The stock has a market capitalization of $1.23 billion, a PE ratio of 28.84 and a beta of 1.05.

Direxion NASDAQ-100 Equal Weighted Index Shares Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 24th were issued a dividend of $0.1602 per share. The ex-dividend date was Tuesday, September 24th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.71%.

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.