Direxion Daily NYSE FANG+ Bull 2X Shares (NYSEARCA:FNGG) Sees Large Growth in Short Interest

Direxion Daily NYSE FANG+ Bull 2X Shares (NYSEARCA:FNGG) saw a large growth in short interest in the month of June. As of June 30th, there was short interest totaling 5,756 shares, a growth of 93.5% from the June 15th total of 2,974 shares. Based on an average daily trading volume, of 9,596 shares, the short-interest ratio is presently 0.6 days. Currently, 1.1% of the company’s shares are short sold.

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

A number of large investors have recently made changes to their positions in FNGG. SBI Securities Co. Ltd. grew its holdings in Direxion Daily NYSE FANG+ Bull 2X Shares by 1.5% during the 4th quarter. SBI Securities Co. Ltd. now owns 12,024 shares of the company’s stock valued at $2,480,000 after purchasing an additional 177 shares during the last quarter. Simplex Trading LLC boosted its position in shares of Direxion Daily NYSE FANG+ Bull 2X Shares by 228.7% during the fourth quarter. Simplex Trading LLC now owns 1,926 shares of the company’s stock valued at $397,000 after buying an additional 1,340 shares during the period. Meadowbrook Wealth Management LLC purchased a new position in shares of Direxion Daily NYSE FANG+ Bull 2X Shares during the second quarter valued at approximately $340,000. Larson Financial Group LLC boosted its position in shares of Direxion Daily NYSE FANG+ Bull 2X Shares by 223.2% during the third quarter. Larson Financial Group LLC now owns 640 shares of the company’s stock valued at $155,000 after buying an additional 442 shares during the period. Finally, Wealth Watch Advisors INC bought a new position in shares of Direxion Daily NYSE FANG+ Bull 2X Shares during the third quarter valued at approximately $109,000.

Direxion Daily NYSE FANG+ Bull 2X Shares Stock Down 3.5%

Shares of FNGG opened at $227.67 on Friday. The business has a fifty day moving average of $235.01 and a 200 day moving average of $202.67. The company has a market cap of $120.67 million, a PE ratio of 42.08 and a beta of 2.82. Direxion Daily NYSE FANG+ Bull 2X Shares has a 52-week low of $139.12 and a 52-week high of $276.00.

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.