Direxion Daily AAPL Bull 2X Shares (NASDAQ:AAPU) Short Interest Down 58.8% in March

Direxion Daily AAPL Bull 2X Shares (NASDAQ:AAPU) saw a significant drop in short interest in the month of March. As of March 31st, there was short interest totalling 255,600 shares, a drop of 58.8% from the March 15th total of 620,300 shares. Based on an average daily trading volume, of 1,483,300 shares, the days-to-cover ratio is currently 0.2 days. Currently, 7.4% of the company’s shares are short sold.

Direxion Daily AAPL Bull 2X Shares Price Performance

AAPU stock opened at $22.14 on Wednesday. The firm has a market capitalization of $76.83 million, a P/E ratio of 32.24 and a beta of -1.95. Direxion Daily AAPL Bull 2X Shares has a 52-week low of $15.89 and a 52-week high of $43.10. The company’s 50 day simple moving average is $28.53 and its 200-day simple moving average is $33.49.

Direxion Daily AAPL Bull 2X Shares Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 25th were issued a $0.243 dividend. The ex-dividend date was Tuesday, March 25th. This represents a $0.97 dividend on an annualized basis and a dividend yield of 4.39%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of AAPU. Virtu Financial LLC purchased a new stake in Direxion Daily AAPL Bull 2X Shares in the 3rd quarter worth about $1,799,000. Client First Investment Management LLC purchased a new stake in shares of Direxion Daily AAPL Bull 2X Shares in the fourth quarter worth approximately $363,000. PayPay Securities Corp acquired a new stake in shares of Direxion Daily AAPL Bull 2X Shares during the fourth quarter worth approximately $31,000. SBI Securities Co. Ltd. purchased a new position in Direxion Daily AAPL Bull 2X Shares during the fourth quarter valued at approximately $125,000. Finally, JPMorgan Chase & Co. grew its position in Direxion Daily AAPL Bull 2X Shares by 70.3% during the fourth quarter. JPMorgan Chase & Co. now owns 10,091 shares of the company’s stock valued at $380,000 after purchasing an additional 4,166 shares in the last quarter.

Direxion Daily AAPL Bull 2X Shares Company Profile

The Direxion Daily AAPL Bull 1.5X Shares (AAPU) is an exchange-traded fund that is based on the Apple Inc index. The fund provides 1.5x leveraged exposure, less fees and expenses, to the daily price movement for shares of Apple stock. AAPU was launched on Aug 9, 2022 and is managed by Direxion.