Should Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE) Be on Your Investing Radar?
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 11 2024
0mins
Source: NASDAQ.COM
Overview of QQQE ETF: The Direxion NASDAQ-100 Equal Weighted Index Shares (QQQE) is a passively managed ETF that targets the Large Cap Growth segment of the US equity market, with assets over $1.25 billion and an expense ratio of 0.35%. It has a significant allocation to the Information Technology sector and aims to match the performance of the NASDAQ-100 Equal Weighted Index.
Performance and Comparison: As of September 2024, QQQE has gained approximately 12.37% over the past year, with a medium risk profile indicated by its beta of 1.02. Investors may also consider similar ETFs like Vanguard Growth ETF (VUG) and Invesco QQQ (QQQ), which have lower expense ratios and larger asset bases.
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Analyst Views on ODFL
Wall Street analysts forecast ODFL stock price to fall
18 Analyst Rating
7 Buy
8 Hold
3 Sell
Hold
Current: 231.620
Low
114.00
Averages
162.18
High
196.00
Current: 231.620
Low
114.00
Averages
162.18
High
196.00
About ODFL
Old Dominion Freight Line, Inc. is a less-than-truckload (LTL) motor carrier. The Company provides regional, inter-regional and national LTL services through a single integrated, union-free organization. Its service offerings, which include expedited transportation, are provided through an expansive network of service centers located throughout the continental United States. It offers a range of value-added services including container drayage, truckload brokerage and supply chain consulting. It operates approximately 261 service center locations, of which it owns 239 and leased 22. Its service centers are responsible for the pickup and delivery of freight within their local service area. Its systems allow it to offer its customers access to information, such as freight tracking, shipping documents, rate quotes, rate databases and account activity. Its integrated systems and customer service department provide its customers with a single point of contact to access information.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Earnings Forecast Analysis: While analysts believe ODFL could achieve an EPS of $9.81 by 2028, significantly above the street's estimate of $7.16, a re-rating to a 25x earnings multiple implies no upside to its current share price, indicating market caution regarding its future performance.
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