Direxion Daily AMZN Bull 2X Shares (NASDAQ:AMZU) Sees Large Growth in Short Interest

Direxion Daily AMZN Bull 2X Shares (NASDAQ:AMZU) was the target of a large increase in short interest in July. As of July 31st, there was short interest totaling 2,952,669 shares, an increase of 68.6% from the July 15th total of 1,750,773 shares. Currently, 32.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 3,385,315 shares, the days-to-cover ratio is currently 0.9 days.

Hedge Funds Weigh In On Direxion Daily AMZN Bull 2X Shares

Several institutional investors have recently added to or reduced their stakes in the company. Safe Harbor Fiduciary LLC acquired a new position in Direxion Daily AMZN Bull 2X Shares in the fourth quarter valued at about $41,000. SOA Wealth Advisors LLC. raised its stake in shares of Direxion Daily AMZN Bull 2X Shares by 56.9% in the first quarter. SOA Wealth Advisors LLC. now owns 1,764 shares of the company’s stock valued at $47,000 after acquiring an additional 640 shares during the last quarter. Hollencrest Capital Management bought a new position in shares of Direxion Daily AMZN Bull 2X Shares in the fourth quarter valued at approximately $69,000. Parallel Advisors LLC boosted its holdings in shares of Direxion Daily AMZN Bull 2X Shares by 507.7% in the 3rd quarter. Parallel Advisors LLC now owns 1,975 shares of the company’s stock worth $69,000 after acquiring an additional 1,650 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its position in Direxion Daily AMZN Bull 2X Shares by 13.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,500 shares of the company’s stock worth $202,000 after acquiring an additional 665 shares during the last quarter.

Direxion Daily AMZN Bull 2X Shares Price Performance

Direxion Daily AMZN Bull 2X Shares stock opened at $37.81 on Wednesday. The firm has a market capitalization of $342.18 million, a P/E ratio of 32.75 and a beta of 2.49. The stock has a fifty day moving average price of $35.87 and a two-hundred day moving average price of $34.76. Direxion Daily AMZN Bull 2X Shares has a 52-week low of $24.54 and a 52-week high of $47.14.

Direxion Daily AMZN Bull 2X Shares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd were issued a $0.1722 dividend. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $0.69 annualized dividend and a dividend yield of 1.8%.

About Direxion Daily AMZN Bull 2X Shares

The Direxion Daily AMZN Bull 1.5X Shares ETF (AMZU) is an exchange-traded fund that is based on the Amazon.com, Inc index. The fund provides 1.5x leveraged exposure, less fees and expenses, to the daily price movement for shares of Amazon stock. AMZU was launched on Sep 7, 2022 and is managed by Direxion.