Direxion Daily Magnificent 7 Bull 2X Shares (NYSEARCA:QQQU) Short Interest Update

Direxion Daily Magnificent 7 Bull 2X Shares (NYSEARCA:QQQU) was the recipient of a significant growth in short interest in 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 trading volume, of 70,248 shares, the short-interest ratio is presently 0.6 days. Currently, 2.2% of the company’s stock are sold short. Currently, 2.2% of the company’s stock are sold short. Based on an average daily trading volume, of 70,248 shares, the short-interest ratio is presently 0.6 days.

Hedge Funds Weigh In On Direxion Daily Magnificent 7 Bull 2X Shares

A number of hedge funds have recently added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. increased its holdings in 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 in the last quarter. Bank of America Corp DE bought a new position in shares of Direxion Daily Magnificent 7 Bull 2X Shares in the fourth quarter valued at approximately $55,000. Financial & Tax Architects LLC purchased a new position in shares of Direxion Daily Magnificent 7 Bull 2X Shares during the second quarter valued at approximately $207,000. HRT Financial LP purchased a new position in shares of Direxion Daily Magnificent 7 Bull 2X Shares during the fourth quarter valued at approximately $362,000. Finally, Southland Equity Partners LLC bought a new stake in Direxion Daily Magnificent 7 Bull 2X Shares during the third quarter worth $592,000.

Direxion Daily Magnificent 7 Bull 2X Shares Price Performance

Shares of NYSEARCA:QQQU traded up $0.65 during midday trading on Wednesday, hitting $44.08. 79,859 shares of the company’s stock were exchanged, compared to its average volume of 72,319. The stock has a 50 day moving average price of $50.42 and a 200-day moving average price of $55.71. The company has a market cap of $85.96 million, a PE ratio of 34.65 and a beta of 2.99. Direxion Daily Magnificent 7 Bull 2X Shares has a 12 month low of $22.55 and a 12 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.