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) saw unusually-high trading volume on Friday . Approximately 122,590 shares changed hands during 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 Stock Down 0.4 %

The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of 28.84 and a beta of 1.05. The stock has a fifty day moving average of $92.61 and a 200-day moving average of $89.78.

Direxion NASDAQ-100 Equal Weighted Index Shares Cuts Dividend

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Goodman Advisory Group LLC acquired a new position in Direxion NASDAQ-100 Equal Weighted Index Shares in the second quarter valued at $54,000. Beaird Harris Wealth Management LLC purchased a new stake in shares of Direxion NASDAQ-100 Equal Weighted Index Shares in the 2nd quarter valued at about $55,000. Banque Cantonale Vaudoise lifted its holdings in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 25.9% in the 2nd quarter. Banque Cantonale Vaudoise now owns 1,199 shares of the company’s stock valued at $106,000 after purchasing an additional 247 shares during the last quarter. CWM LLC boosted its position in shares of 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 purchasing an additional 131 shares during the period. Finally, Raleigh Capital Management Inc. purchased a new position in Direxion NASDAQ-100 Equal Weighted Index Shares during the 3rd quarter worth approximately $142,000.

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.