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 decrease in short interest during the month of March. As of March 31st, there was short interest totaling 37,114 shares, a decrease of 13.5% from the March 15th total of 42,889 shares. Approximately 1.9% of the company’s shares are sold short. Based on an average daily trading volume, of 90,361 shares, the days-to-cover ratio is currently 0.4 days.

Direxion Daily Magnificent 7 Bull 2X Shares Stock Performance

Shares of NYSEARCA QQQU opened at $55.47 on Friday. The firm has a market capitalization of $101.51 million, a price-to-earnings ratio of 34.65 and a beta of 3.07. The stock has a 50 day moving average price of $47.27 and a 200 day moving average price of $54.28. Direxion Daily Magnificent 7 Bull 2X Shares has a 52-week low of $23.90 and a 52-week high of $66.97.

Institutional Trading of Direxion Daily Magnificent 7 Bull 2X Shares

A number of large investors have recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Direxion Daily Magnificent 7 Bull 2X Shares by 140.8% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,062 shares of the company’s stock valued at $60,000 after purchasing an additional 621 shares during the period. Bank of America Corp DE purchased a new stake in shares of Direxion Daily Magnificent 7 Bull 2X Shares in the fourth quarter valued at approximately $55,000. HRT Financial LP purchased a new stake in shares of Direxion Daily Magnificent 7 Bull 2X Shares in the fourth quarter valued at approximately $362,000. CPR Investments Inc. purchased a new stake in shares of Direxion Daily Magnificent 7 Bull 2X Shares in the first quarter valued at approximately $294,000. Finally, Southland Equity Partners LLC purchased a new stake in shares of Direxion Daily Magnificent 7 Bull 2X Shares in the third quarter valued at approximately $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.