Short Interest in Direxion Daily Magnificent 7 Bull 2X Shares (NYSEARCA:QQQU) Rises By 191.4%

Direxion Daily Magnificent 7 Bull 2X Shares (NYSEARCA:QQQU) was the recipient of a significant growth in short interest in the month of March. As of March 13th, there was short interest totaling 42,889 shares, a growth of 191.4% from the February 26th total of 14,719 shares. Based on an average daily volume of 70,248 shares, the days-to-cover ratio is currently 0.6 days. Approximately 2.2% of the company’s shares are sold short.

Direxion Daily Magnificent 7 Bull 2X Shares Trading Down 4.8%

QQQU stock traded down $1.98 during trading on Friday, reaching $39.30. 59,506 shares of the stock were exchanged, compared to its average volume of 72,384. The firm has a market capitalization of $76.64 million, a price-to-earnings ratio of 34.65 and a beta of 2.99. The business has a 50 day moving average price of $49.95 and a 200-day moving average price of $55.52. Direxion Daily Magnificent 7 Bull 2X Shares has a 1 year low of $22.55 and a 1 year high of $66.97.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE acquired a new position in shares of Direxion Daily Magnificent 7 Bull 2X Shares in the 4th quarter valued at $55,000. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Direxion Daily Magnificent 7 Bull 2X Shares by 140.8% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,062 shares of the company’s stock worth $60,000 after purchasing an additional 621 shares during the last quarter. Financial & Tax Architects LLC purchased a new stake in Direxion Daily Magnificent 7 Bull 2X Shares in the 2nd quarter valued at about $207,000. HRT Financial LP purchased a new stake in Direxion Daily Magnificent 7 Bull 2X Shares in the 4th quarter valued at about $362,000. Finally, Southland Equity Partners LLC acquired a new position in Direxion Daily Magnificent 7 Bull 2X Shares in the third quarter valued at about $592,000.

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.