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 large growth in short interest in the month of 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 volume of 58,142 shares, the days-to-cover ratio is currently 0.7 days. Currently, 2.9% of the company’s shares are sold short.

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

Several large investors have recently made changes to their positions in QQQU. CPR Investments Inc. purchased a new position in shares of Direxion Daily Magnificent 7 Bull 2X Shares in the 1st quarter valued at $294,000. HRT Financial LP acquired a new stake in Direxion Daily Magnificent 7 Bull 2X Shares in the 4th quarter valued at $362,000. Thurston Springer Miller Herd & Titak Inc. increased its holdings in Direxion Daily Magnificent 7 Bull 2X Shares by 140.8% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,062 shares of the company’s stock valued at $60,000 after purchasing an additional 621 shares in the last quarter. Susquehanna International Group LLP purchased a new position in Direxion Daily Magnificent 7 Bull 2X Shares in the third quarter valued at about $978,000. Finally, Bank of America Corp DE purchased a new position in Direxion Daily Magnificent 7 Bull 2X Shares in the fourth quarter valued at about $55,000.

Direxion Daily Magnificent 7 Bull 2X Shares Stock Performance

QQQU traded down $0.16 on Tuesday, reaching $48.50. 8,189 shares of the company’s stock were exchanged, compared to its average volume of 77,616. The company’s 50 day moving average is $54.92 and its 200-day moving average is $52.61. The company has a market cap of $64.50 million, a price-to-earnings ratio of 34.65 and a beta of 3.09. Direxion Daily Magnificent 7 Bull 2X Shares has a twelve month low of $38.42 and a twelve month 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.