Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) Reaches New 1-Year High – Should You Buy?

Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $105.47 and last traded at $105.36, with a volume of 104737 shares traded. The stock had previously closed at $104.50.

Direxion NASDAQ-100 Equal Weighted Index Shares Price Performance

The firm’s 50-day simple moving average is $102.78 and its 200 day simple moving average is $101.10. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of 27.96 and a beta of 1.08.

Institutional Trading of Direxion NASDAQ-100 Equal Weighted Index Shares

Several institutional investors and hedge funds have recently modified their holdings of QQQE. Simplex Trading LLC bought a new position in Direxion NASDAQ-100 Equal Weighted Index Shares in the second quarter valued at about $25,000. Goodman Advisory Group LLC acquired a new stake in shares of Direxion NASDAQ-100 Equal Weighted Index Shares in the 2nd quarter valued at approximately $29,000. Parkside Financial Bank & Trust bought a new stake in shares of Direxion NASDAQ-100 Equal Weighted Index Shares during the 2nd quarter valued at approximately $43,000. Caldwell Trust Co bought a new stake in shares of Direxion NASDAQ-100 Equal Weighted Index Shares during the 2nd quarter valued at approximately $49,000. Finally, Miller Global Investments LLC acquired a new position in Direxion NASDAQ-100 Equal Weighted Index Shares during the 4th quarter worth approximately $57,000.

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.