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

Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) saw a significant decrease in short interest in the month of March. As of March 31st, there was short interest totaling 631,481 shares, a decrease of 14.9% from the March 15th total of 741,883 shares. Based on an average daily trading volume, of 284,626 shares, the days-to-cover ratio is presently 2.2 days. Approximately 5.5% of the company’s shares are short sold.

Institutional Investors Weigh In On Direxion NASDAQ-100 Equal Weighted Index Shares

Large investors have recently modified their holdings of the company. Caldwell Trust Co bought a new position in Direxion NASDAQ-100 Equal Weighted Index Shares during the second quarter worth $49,000. Miller Global Investments LLC bought a new position in Direxion NASDAQ-100 Equal Weighted Index Shares during the fourth quarter worth $57,000. Assetmark Inc. bought a new position in Direxion NASDAQ-100 Equal Weighted Index Shares during the fourth quarter worth $63,000. Optiver Holding B.V. bought a new position in Direxion NASDAQ-100 Equal Weighted Index Shares during the third quarter worth $66,000. Finally, Pittenger & Anderson Inc. bought a new position in Direxion NASDAQ-100 Equal Weighted Index Shares during the fourth quarter worth $75,000.

Direxion NASDAQ-100 Equal Weighted Index Shares Stock Up 1.3%

QQQE opened at $106.66 on Friday. Direxion NASDAQ-100 Equal Weighted Index Shares has a twelve month low of $79.82 and a twelve month high of $107.06. The company has a fifty day moving average of $101.63 and a 200-day moving average of $102.47. The stock has a market cap of $1.24 billion, a PE ratio of 27.96 and a beta of 1.07.

Direxion NASDAQ-100 Equal Weighted Index Shares Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 24th were given a dividend of $0.1627 per share. The ex-dividend date was Tuesday, March 24th. This represents a $0.65 annualized dividend and a dividend yield of 0.6%.

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.