Direxion Daily NYSE FANG+ Bull 2X Shares (NYSEARCA:FNGG) Short Interest Update

Direxion Daily NYSE FANG+ Bull 2X Shares (NYSEARCA:FNGG) was the target of a large drop in short interest in July. As of July 31st, there was short interest totaling 3,421 shares, a drop of 48.7% from the July 15th total of 6,669 shares. Approximately 0.6% of the shares of the stock are short sold. Based on an average trading volume of 3,334 shares, the days-to-cover ratio is presently 1.0 days.

Direxion Daily NYSE FANG+ Bull 2X Shares Trading Down 2.6%

Shares of NYSEARCA FNGG traded down $6.78 during mid-day trading on Tuesday, reaching $253.56. The company had a trading volume of 4,374 shares, compared to its average volume of 9,175. The company has a 50-day moving average price of $234.51 and a two-hundred day moving average price of $208.94. The stock has a market cap of $134.39 million, a PE ratio of 42.08 and a beta of 2.82. Direxion Daily NYSE FANG+ Bull 2X Shares has a 1-year low of $139.12 and a 1-year high of $276.00.

Hedge Funds Weigh In On Direxion Daily NYSE FANG+ Bull 2X Shares

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wealth Watch Advisors INC acquired a new stake in Direxion Daily NYSE FANG+ Bull 2X Shares during the 3rd quarter worth about $109,000. Larson Financial Group LLC boosted its holdings in shares of Direxion Daily NYSE FANG+ Bull 2X Shares by 223.2% in the third quarter. Larson Financial Group LLC now owns 640 shares of the company’s stock worth $155,000 after buying an additional 442 shares during the period. Meadowbrook Wealth Management LLC purchased a new position in shares of Direxion Daily NYSE FANG+ Bull 2X Shares in the second quarter worth approximately $340,000. Simplex Trading LLC increased its position in shares of Direxion Daily NYSE FANG+ Bull 2X Shares by 228.7% in the fourth quarter. Simplex Trading LLC now owns 1,926 shares of the company’s stock worth $397,000 after acquiring an additional 1,340 shares in the last quarter. Finally, SBI Securities Co. Ltd. increased its position in shares of Direxion Daily NYSE FANG+ Bull 2X Shares by 1.5% in the fourth quarter. SBI Securities Co. Ltd. now owns 12,024 shares of the company’s stock worth $2,480,000 after acquiring an additional 177 shares in the last quarter.

Direxion Daily NYSE FANG+ Bull 2X Shares Company Profile

The Direxion Daily Select Large Caps & FANGs Bull 2X Shares (FNGG) is an exchange-traded fund that is based on the ICE FANG 20 index. The fund provides 2x the daily price movements of an equal-weighted index consists of FANG stocks and other growth stocks of technology and tech-enabled companies. FNGG was launched on Sep 30, 2021 and is managed by Direxion.