Wambolt & Associates LLC Reduces Stake in Direxion NASDAQ-100 Equal Weighted Index Shares

Wambolt & Associates LLC has reduced its investment in the Direxion NASDAQ-100 Equal Weighted Index Shares (NASDAQ:QQQE) by 10.4% during the fourth quarter, based on the latest Form 13F submitted to the Securities and Exchange Commission (SEC). As a result of this selling activity, the fund now holds 23,816 shares of the stock after divesting 2,774 shares during the quarter. At the time of the filing, Wambolt & Associates LLC had approximately 0.17% ownership stake in Direxion NASDAQ-100 Equal Weighted Index Shares, valued at about $2,138,000.

Other significant investors have also adjusted their holdings of QQQE recently. For instance, Runnymede Capital Advisors Inc. acquired a new stake worth around $26,000 in the fourth quarter. Similarly, Stonebridge Financial Group LLC invested approximately $31,000, while Kestra Investment Management LLC purchased a new position also valued at about $31,000. SBI Securities Co. Ltd. bought a new position worth approximately $34,000, and Global Trust Asset Management LLC made a purchase of about $38,000 during the same period.

Current Stock Performance of Direxion NASDAQ-100 Equal Weighted Index Shares

As of Tuesday, shares of NASDAQ QQQE opened at $90.73. The stock has a 50-day moving average of $92.76 and a 200-day moving average of $91.88. With a market capitalization of $1.27 billion, the share's price-to-earnings (PE) ratio is 26.94, indicating a beta value of 1.05. Moreover, the stock has seen a twelve-month low of $81.45 and a high of $97.98.

Overview of Direxion NASDAQ-100 Equal Weighted Index Shares

The Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE) is an exchange-traded fund (ETF) that tracks an equal-weighted version of the NASDAQ-100 index. Launched on March 21, 2012, this ETF is managed by Direxion.

Investment Considerations

Before considering an investment in Direxion NASDAQ-100 Equal Weighted Index Shares, it's advisable to review the current market sentiments regarding the stock. As per evaluations from top analysts, while QQQE is rated as a Hold, there are recommendations for other stocks that might present better investment opportunities at this time.

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