Direxion Daily Magnificent 7 Bull 2X Shares (NYSEARCA:QQQU) Short Interest Down 40.0% in February

Direxion Daily Magnificent 7 Bull 2X Shares (NYSEARCA:QQQU) was the target of a large drop in short interest in the month of February. As of February 13th, there was short interest totaling 15,183 shares, a drop of 40.0% from the January 29th total of 25,300 shares. Approximately 0.8% of the company’s shares are short sold. Based on an average daily trading volume, of 66,091 shares, the days-to-cover ratio is presently 0.2 days. Based on an average daily trading volume, of 66,091 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.8% of the company’s shares are short sold.

Direxion Daily Magnificent 7 Bull 2X Shares Trading Down 2.7%

NYSEARCA:QQQU opened at $48.14 on Friday. Direxion Daily Magnificent 7 Bull 2X Shares has a 1 year low of $22.55 and a 1 year high of $66.97. The stock has a 50-day moving average price of $53.73 and a two-hundred day moving average price of $56.07. The stock has a market cap of $93.87 million, a price-to-earnings ratio of 34.65 and a beta of 2.99.

Direxion Daily Magnificent 7 Bull 2X Shares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 17th. Investors of record on Wednesday, December 10th were paid a dividend of $5.3084 per share. This represents a $21.23 dividend on an annualized basis and a yield of 44.1%. The ex-dividend date of this dividend was Wednesday, December 10th.

Institutional Investors Weigh In On Direxion Daily Magnificent 7 Bull 2X Shares

Several institutional investors have recently added to or reduced their stakes in the stock. Susquehanna International Group LLP bought a new position in Direxion Daily Magnificent 7 Bull 2X Shares during the 3rd quarter worth about $978,000. Southland Equity Partners LLC bought a new stake in Direxion Daily Magnificent 7 Bull 2X Shares in the 3rd quarter valued at approximately $592,000. HRT Financial LP bought a new position in shares of Direxion Daily Magnificent 7 Bull 2X Shares during the 4th quarter worth approximately $362,000. Financial & Tax Architects LLC acquired a new stake in shares of Direxion Daily Magnificent 7 Bull 2X Shares in the second quarter valued at approximately $207,000. Finally, SBI Securities Co. Ltd. increased its stake in Direxion Daily Magnificent 7 Bull 2X Shares by 262.5% in the 2nd quarter. SBI Securities Co. Ltd. now owns 3,273 shares of the company’s stock valued at $142,000 after buying an additional 2,370 shares during the last quarter.

About Direxion Daily Magnificent 7 Bull 2X Shares

The Direxion Daily Concentrated Qs Bull 2X Shares (QQQU) is an exchange-traded fund that is based on the Indxx Front of the Q index. The fund tracks 2x the daily price movements of an equal-weighted index of the seven largest NASDAQ-listed companies. QQQU was launched on Mar 7, 2024 and is issued by Direxion.