Direxion Daily Magnificent 7 Bull 2X Shares (NYSEARCA:QQQU) Short Interest Update

Direxion Daily Magnificent 7 Bull 2X Shares (NYSEARCA:QQQU) was the target of a significant growth in short interest in July. As of July 15th, there was short interest totaling 38,168 shares, a growth of 134.5% from the June 30th total of 16,277 shares. Based on an average daily trading volume, of 58,142 shares, the days-to-cover ratio is presently 0.7 days. Currently, 2.9% of the company’s stock are sold short.

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

Hedge funds and other institutional investors have recently modified their holdings of the stock. Susquehanna International Group LLP acquired a new stake in shares of Direxion Daily Magnificent 7 Bull 2X Shares in the 3rd quarter valued at about $978,000. CPR Investments Inc. acquired a new position in Direxion Daily Magnificent 7 Bull 2X Shares in the first quarter worth about $294,000. HRT Financial LP bought a new stake in Direxion Daily Magnificent 7 Bull 2X Shares in the fourth quarter valued at about $362,000. Bank of America Corp DE bought a new stake in Direxion Daily Magnificent 7 Bull 2X Shares in the fourth quarter valued at about $55,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its stake in Direxion Daily Magnificent 7 Bull 2X Shares by 140.8% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,062 shares of the company’s stock valued at $60,000 after buying an additional 621 shares in the last quarter.

Direxion Daily Magnificent 7 Bull 2X Shares Price Performance

QQQU traded down $0.16 during trading on Tuesday, hitting $48.50. The company had a trading volume of 8,189 shares, compared to its average volume of 77,616. The company has a market cap of $64.50 million, a PE ratio of 34.65 and a beta of 3.09. The business has a 50-day moving average of $54.92 and a 200-day moving average of $52.61. Direxion Daily Magnificent 7 Bull 2X Shares has a 1-year low of $38.42 and a 1-year high of $66.97.

Direxion Daily Magnificent 7 Bull 2X Shares Company Profile

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.