QQQE Stock Summary and Trading Ideas (Direxion Nasdaq 100 Equal Weighted Index Shares | ARCA:QQQE)

The Direxion NASDAQ-100 Equal Weighted Index Shares seeks investment results, before fees and expenses, that track the NASDAQ-100 Equal Weighted Index. he NASDAQ-100 Equal Weighted Index consists of companies in the NASDAQ-100 Index but each of the securities is initially set at a weight of 1.00% of the Index. It is reconstituted once a year in December, but replacements may be made during the year if theres a replacement in the NASDAQ- 100 Index. The index is an equal weighted index and is rebalanced four times annually in March, June, September and December.

Direxion Nasdaq 100 Equal Weighted Index Shares trades on the ARCA stock market under the symbol QQQE.

As of April 17, 2024, QQQE stock price declined to $83.97 with 330,833 million shares trading.

QQQE has a beta of 1.21, meaning it tends to be more sensitive to market movements. QQQE has a correlation of 0.88 to the broad based SPY ETF.

QQQE has a market cap of $1.16 billion. This is considered a Small Cap stock.

In the last 3 years, QQQE stock traded as high as $90.21 and as low as $57.41.

QQQE has underperformed the market in the last year with a price return of +18.6% while the SPY ETF gained +23.0%. QQQE has also underperformed the stock market ETF in the last 3 month and 2 week periods returning +0.5% and -4.5%, respectively, while the SPY returned +5.7% and -3.5%, respectively.

QQQE support price is $84.10 and resistance is $85.76 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that QQQE stock will trade within this expected range on the day.