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

Direxion Daily Magnificent 7 Bull 2X Shares (NYSEARCA:QQQU) was the recipient of a significant increase in short interest in January. As of January 15th, there was short interest totaling 27,240 shares, an increase of 87.5% from the December 31st total of 14,525 shares. Approximately 1.4% of the company’s stock are sold short. Based on an average daily volume of 73,059 shares, the days-to-cover ratio is presently 0.4 days. Based on an average daily volume of 73,059 shares, the days-to-cover ratio is presently 0.4 days. Approximately 1.4% of the company’s stock are sold short.

Institutional Investors Weigh In On Direxion Daily Magnificent 7 Bull 2X Shares

Institutional investors and hedge funds have recently bought and sold shares of the stock. SBI Securities Co. Ltd. raised its holdings in shares of Direxion Daily Magnificent 7 Bull 2X Shares by 262.5% in the 2nd quarter. SBI Securities Co. Ltd. now owns 3,273 shares of the company’s stock worth $142,000 after purchasing an additional 2,370 shares during the period. Southland Equity Partners LLC bought a new position in shares of Direxion Daily Magnificent 7 Bull 2X Shares during the third quarter worth about $592,000. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in 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 worth $60,000 after purchasing an additional 621 shares during the period. Susquehanna International Group LLP acquired a new position in Direxion Daily Magnificent 7 Bull 2X Shares in the third quarter valued at approximately $978,000. Finally, Bank of America Corp DE bought a new position in shares of Direxion Daily Magnificent 7 Bull 2X Shares during the fourth quarter worth about $55,000.

Direxion Daily Magnificent 7 Bull 2X Shares Stock Performance

Direxion Daily Magnificent 7 Bull 2X Shares stock traded down $0.36 during midday trading on Friday, reaching $56.43. 69,598 shares of the company’s stock were exchanged, compared to its average volume of 82,185. Direxion Daily Magnificent 7 Bull 2X Shares has a 52 week low of $22.55 and a 52 week high of $66.97. The stock’s 50-day simple moving average is $57.24 and its 200 day simple moving average is $55.72. The firm has a market cap of $107.22 million, a price-to-earnings ratio of 34.65 and a beta of 2.99.

Direxion Daily Magnificent 7 Bull 2X Shares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 17th. Shareholders of record on Wednesday, December 10th were paid a $5.3084 dividend. This represents a $21.23 annualized dividend and a yield of 37.6%. The ex-dividend date of this dividend was Wednesday, December 10th.

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.