Direxion Daily S&P 500 Bull 2X Shares (NYSEARCA:SPUU) Sees Significant Increase in Short Interest

Direxion Daily S&P 500 Bull 2X Shares (NYSEARCA:SPUU) was the recipient of a large growth in short interest in October. As of October 15th, there was short interest totaling 15,800 shares, a growth of 73.6% from the September 30th total of 9,100 shares. Based on an average trading volume of 26,500 shares, the days-to-cover ratio is presently 0.6 days. Currently, 1.4% of the company’s stock are short sold. Currently, 1.4% of the company’s stock are short sold. Based on an average trading volume of 26,500 shares, the days-to-cover ratio is presently 0.6 days.

Direxion Daily S&P 500 Bull 2X Shares Price Performance

Shares of NYSEARCA:SPUU opened at $187.49 on Monday. The company’s fifty day moving average price is $177.42 and its 200 day moving average price is $158.97. Direxion Daily S&P 500 Bull 2X Shares has a 12 month low of $97.44 and a 12 month high of $191.36. The firm has a market capitalization of $202.49 million, a P/E ratio of 25.96 and a beta of 2.03.

Institutional Investors Weigh In On Direxion Daily S&P 500 Bull 2X Shares

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Exchange Traded Concepts LLC raised its stake in Direxion Daily S&P 500 Bull 2X Shares by 78.1% during the 3rd quarter. Exchange Traded Concepts LLC now owns 115,597 shares of the company’s stock worth $20,785,000 after acquiring an additional 50,700 shares in the last quarter. Tower Research Capital LLC TRC acquired a new position in Direxion Daily S&P 500 Bull 2X Shares in the second quarter valued at $7,678,000. Flow Traders U.S. LLC acquired a new position in Direxion Daily S&P 500 Bull 2X Shares in the first quarter valued at $700,000. Bison Wealth LLC acquired a new position in Direxion Daily S&P 500 Bull 2X Shares in the fourth quarter valued at $210,000. Finally, Sonoma Allocations LLC acquired a new position in Direxion Daily S&P 500 Bull 2X Shares in the third quarter valued at $222,000.

Direxion Daily S&P 500 Bull 2X Shares Company Profile

The Direxion Daily S&P 500 Bull 2X Shares (SPUU) is an exchange-traded fund that is based on the S&P 500 index. The fund provides 2x daily leveraged exposure to the S&P 500, a market-cap-weighted index of US large-cap stocks selected by S&Ps index committee. SPUU was launched on May 28, 2014 and is managed by Direxion.