Direxion Daily Magnificent 7 Bull 2X Shares (NYSEARCA:QQQU) Sees Significant Increase in Short Interest

Direxion Daily Magnificent 7 Bull 2X Shares (NYSEARCA:QQQU) was the target of a significant growth in short interest during the month of August. As of August 15th, there was short interest totaling 44,500 shares, agrowthof190.8% from the July 31st total of 15,300 shares. Based on an average trading volume of 88,500 shares, the short-interest ratio is currently 0.5 days. Based on an average trading volume of 88,500 shares, the short-interest ratio is currently 0.5 days.

Institutional Trading of Direxion Daily Magnificent 7 Bull 2X Shares

Several institutional investors have recently added to or reduced their stakes in the stock. Susquehanna International Group LLP boosted its holdings in Direxion Daily Magnificent 7 Bull 2X Shares by 80.9% in the fourth quarter. Susquehanna International Group LLP now owns 55,519 shares of the company’s stock valued at $2,581,000 after acquiring an additional 24,831 shares during the last quarter. HighTower Advisors LLC bought a new position in shares of Direxion Daily Magnificent 7 Bull 2X Shares during the 1st quarter worth approximately $415,000. Financial & Tax Architects LLC bought a new position in shares of Direxion Daily Magnificent 7 Bull 2X Shares during the 2nd quarter worth approximately $207,000. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Direxion Daily Magnificent 7 Bull 2X Shares by 32.3% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,829 shares of the company’s stock worth $166,000 after buying an additional 934 shares in the last quarter. Finally, SBI Securities Co. Ltd. boosted its holdings in shares of Direxion Daily Magnificent 7 Bull 2X Shares by 262.5% during the 2nd quarter. SBI Securities Co. Ltd. now owns 3,273 shares of the company’s stock worth $142,000 after buying an additional 2,370 shares in the last quarter.

Direxion Daily Magnificent 7 Bull 2X Shares Price Performance

Shares of QQQU stock opened at $52.43 on Friday. The business’s 50 day simple moving average is $47.83 and its 200 day simple moving average is $39.83. Direxion Daily Magnificent 7 Bull 2X Shares has a one year low of $22.55 and a one year high of $53.75. The stock has a market capitalization of $102.24 million, a PE ratio of 34.65 and a beta of 3.25.

About Direxion Daily Magnificent 7 Bull 2X Shares

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.