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 significant drop in short interest in 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. Approximately 5.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 342,720 shares, the short-interest ratio is presently 1.9 days. Based on an average daily trading volume, of 342,720 shares, the short-interest ratio is presently 1.9 days. Approximately 5.6% of the shares of the stock are sold short.

Hedge Funds Weigh In On Direxion NASDAQ-100 Equal Weighted Index Shares

A number of institutional investors have recently modified their holdings of the company. SteelPeak Wealth LLC acquired a new position in Direxion NASDAQ-100 Equal Weighted Index Shares in the 4th quarter valued at $56,917,000. Northwestern Mutual Wealth Management Co. increased its stake in Direxion NASDAQ-100 Equal Weighted Index Shares by 865.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 525,272 shares of the company’s stock valued at $53,741,000 after purchasing an additional 470,880 shares during the last quarter. Morgan Stanley lifted its position in Direxion NASDAQ-100 Equal Weighted Index Shares by 40.4% during the fourth quarter. Morgan Stanley now owns 695,869 shares of the company’s stock worth $71,195,000 after buying an additional 200,167 shares during the period. BNP Paribas Financial Markets boosted its position in shares of Direxion NASDAQ-100 Equal Weighted Index Shares by 98.6% in the second quarter. BNP Paribas Financial Markets now owns 201,400 shares of the company’s stock worth $19,800,000 after acquiring an additional 100,000 shares during the last quarter. Finally, Two Sigma Investments LP purchased a new stake in Direxion NASDAQ-100 Equal Weighted Index Shares in the third quarter valued at approximately $4,461,000.

Direxion NASDAQ-100 Equal Weighted Index Shares Stock Up 1.1%

Shares of QQQE traded up $1.15 during trading hours on Friday, reaching $102.67. 154,579 shares of the company traded hands, compared to its average volume of 271,949. The stock has a market capitalization of $1.21 billion, a PE ratio of 27.96 and a beta of 1.08. The stock has a fifty day simple moving average of $103.73 and a 200 day simple moving average of $101.61. 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.

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.