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 - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $111.45 and last traded at $111.22, with a volume of 196652 shares. The stock had previously closed at $110.15.Direxion NASDAQ-100 Equal Weighted Index Shares Stock Up 1.0%The stock's 50-day simple moving average is $102.73 and its 200 day simple moving average is $102.89. The company has a market cap of $1.25 billion, a price-to-earnings ratio of 27.96 and a beta of 1.08. Direxion NASDAQ-100 Equal Weighted Index Shares Cuts DividendThe business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 24th were issued a $0.1627 dividend. This represents a $0.65 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Tuesday, March 24th. Institutional Trading of Direxion NASDAQ-100 Equal Weighted Index SharesInstitutional investors have recently added to or reduced their stakes in the stock. First Trust Advisors LP purchased a new position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares during the second quarter worth $413,000. Florida Financial Advisors LLC grew its stake in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 6.7% in the second quarter. Florida Financial Advisors LLC now owns 4,014 shares of the company's stock valued at $396,000 after buying an additional 253 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 0.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 631,319 shares of the company's stock valued at $62,072,000 after buying an additional 5,736 shares during the period. BNP Paribas Financial Markets raised its holdings in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 98.6% in the 2nd quarter. BNP Paribas Financial Markets now owns 201,400 shares of the company's stock valued at $19,800,000 after buying an additional 100,000 shares during the period. Finally, IHT Wealth Management LLC acquired a new position in Direxion NASDAQ-100 Equal Weighted Index Shares during the 2nd quarter worth about $475,000. Direxion NASDAQ-100 Equal Weighted Index Shares Company Profile (Get Free Report)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. Recommended StoriesFive stocks we like better than Direxion NASDAQ-100 Equal Weighted Index SharesThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Direxion NASDAQ-100 Equal Weighted Index Shares Right Now?Before you consider Direxion NASDAQ-100 Equal Weighted Index Shares, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Direxion NASDAQ-100 Equal Weighted Index Shares wasn't on the list.While Direxion NASDAQ-100 Equal Weighted Index Shares currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here