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

Shares of Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) saw an uptick in trading volume on Monday . 266,767 shares traded hands during trading, an increase of 11% from the previous session’s volume of 240,745 shares.The stock last traded at $91.29 and had previously closed at $90.70.

Direxion NASDAQ-100 Equal Weighted Index Shares Trading Up 0.5 %

The company has a market capitalization of $1.28 billion, a price-to-earnings ratio of 28.84 and a beta of 1.05. The stock’s 50 day moving average price is $89.48 and its 200 day moving average price is $88.14.

Direxion NASDAQ-100 Equal Weighted Index Shares Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 24th were given a dividend of $0.1602 per share. The ex-dividend date was Tuesday, September 24th. This represents a $0.64 annualized dividend and a yield of 0.70%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Montag A & Associates Inc. acquired a new stake in shares of Direxion NASDAQ-100 Equal Weighted Index Shares in the 1st quarter valued at approximately $26,000. Goodman Advisory Group LLC acquired a new stake in Direxion NASDAQ-100 Equal Weighted Index Shares in the second quarter valued at $54,000. Beaird Harris Wealth Management LLC acquired a new stake in Direxion NASDAQ-100 Equal Weighted Index Shares in the second quarter valued at $55,000. Banque Cantonale Vaudoise grew its position 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 acquiring an additional 247 shares during the period. Finally, CWM LLC increased its stake in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 11.1% during the 2nd quarter. CWM LLC now owns 1,312 shares of the company’s stock worth $116,000 after purchasing an additional 131 shares during 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.