Direxion Daily Magnificent 7 Bull 2X ETF (NYSEARCA:QQQU) Stock Short Interest Jumps 96.5%

Direxion Daily Magnificent 7 Bull 2X ETF (NYSEARCA:QQQU) saw a significant growth in short interest in the month of September. As of September 30th, there was short interest totaling 18,311 shares, a growth of 96.5% from the September 15th total of 9,320 shares. Approximately 1.5% of the company’s stock are short sold. Based on an average daily volume of 29,340 shares, the short-interest ratio is currently 0.6 days.

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

An institutional investor recently bought a new position in Direxion Daily Magnificent 7 Bull 2X ETF stock. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Direxion Daily Magnificent 7 Bull 2X ETF (NYSEARCA:QQQU) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 441 shares of the company’s stock, valued at approximately $27,000.

Direxion Daily Magnificent 7 Bull 2X ETF Stock Down 0.6%

Shares of NYSEARCA QQQU traded down $0.37 during trading on Thursday, reaching $63.59. 29,562 shares of the stock were exchanged, compared to its average volume of 63,992. The business’s 50-day moving average price is $59.89 and its 200 day moving average price is $56.10. The company has a market capitalization of $78.22 million, a price-to-earnings ratio of 34.65 and a beta of 3.02. Direxion Daily Magnificent 7 Bull 2X ETF has a twelve month low of $38.42 and a twelve month high of $67.30.

Direxion Daily Magnificent 7 Bull 2X ETF 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.