Short Interest in Direxion Daily Magnificent 7 Bull 2X Shares (NYSEARCA:QQQU) Decreases By 59.2%

Direxion Daily Magnificent 7 Bull 2X Shares (NYSEARCA:QQQU) saw a significant decline in short interest during the month of December. As of December 31st, there was short interest totaling 14,525 shares, a decline of 59.2% from the December 15th total of 35,641 shares. Currently, 0.7% of the company’s stock are sold short. Based on an average daily trading volume, of 62,954 shares, the short-interest ratio is currently 0.2 days. Based on an average daily trading volume, of 62,954 shares, the short-interest ratio is currently 0.2 days. Currently, 0.7% of the company’s stock are sold short.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in QQQU. Thurston Springer Miller Herd & Titak Inc. grew its position in Direxion Daily Magnificent 7 Bull 2X Shares by 32.3% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,829 shares of the company’s stock worth $166,000 after purchasing an additional 934 shares in the last quarter. Bank of America Corp DE purchased a new position in shares of Direxion Daily Magnificent 7 Bull 2X Shares in the 4th quarter worth approximately $55,000. SBI Securities Co. Ltd. grew its holdings in shares of Direxion Daily Magnificent 7 Bull 2X Shares by 262.5% in the second quarter. SBI Securities Co. Ltd. now owns 3,273 shares of the company’s stock valued at $142,000 after acquiring an additional 2,370 shares in the last quarter. Financial & Tax Architects LLC purchased a new stake in shares of Direxion Daily Magnificent 7 Bull 2X Shares during the second quarter valued at approximately $207,000. Finally, Southland Equity Partners LLC purchased a new stake in shares of Direxion Daily Magnificent 7 Bull 2X Shares during the third quarter valued at approximately $592,000.

Direxion Daily Magnificent 7 Bull 2X Shares Stock Down 0.4%

NYSEARCA QQQU traded down $0.23 on Friday, reaching $54.35. The company had a trading volume of 36,458 shares, compared to its average volume of 69,678. The stock has a market capitalization of $108.70 million, a P/E ratio of 34.65 and a beta of 2.99. The company’s fifty day moving average is $58.04 and its 200 day moving average is $54.79. Direxion Daily Magnificent 7 Bull 2X Shares has a 52-week low of $22.55 and a 52-week high of $66.97.

Direxion Daily Magnificent 7 Bull 2X Shares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 17th. Stockholders of record on Wednesday, December 10th were issued a $5.3084 dividend. The ex-dividend date was Wednesday, December 10th. This represents a $21.23 annualized dividend and a dividend yield of 39.1%.

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.