Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) Sees Significant Drop in Short Interest

Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) saw a large drop in short interest during the month of January. As of January 30th, there was short interest totaling 655,788 shares, a drop of 24.3% from the January 15th total of 866,614 shares. Based on an average daily volume of 342,720 shares, the days-to-cover ratio is currently 1.9 days. Approximately 5.6% of the shares of the company are sold short. Approximately 5.6% of the shares of the company are sold short. Based on an average daily volume of 342,720 shares, the days-to-cover ratio is currently 1.9 days.

Direxion NASDAQ-100 Equal Weighted Index Shares Price Performance

Shares of NASDAQ:QQQE traded up $1.15 during trading on Friday, reaching $102.67. The company had a trading volume of 154,579 shares, compared to its average volume of 271,949. Direxion NASDAQ-100 Equal Weighted Index Shares has a fifty-two week low of $75.07 and a fifty-two week high of $107.06. The stock’s fifty day moving average price is $103.73 and its 200 day moving average price is $101.61. The firm has a market capitalization of $1.21 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 hedge funds have recently made changes to their positions in the company. Simplex Trading LLC purchased a new position in Direxion NASDAQ-100 Equal Weighted Index Shares during the 2nd 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 second quarter valued at approximately $29,000. Parkside Financial Bank & Trust purchased a new position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares during the 2nd quarter worth approximately $43,000. Caldwell Trust Co acquired a new position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares during the 2nd quarter worth approximately $49,000. Finally, Miller Global Investments LLC acquired a new position in shares of 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.