Direxion Daily S&P 500 Bull 2X Shares (NYSEARCA:SPUU) Sees Large Decline in Short Interest

Direxion Daily S&P 500 Bull 2X Shares (NYSEARCA:SPUU) saw a significant drop in short interest in the month of April. As of April 30th, there was short interest totaling 17,922 shares, a drop of 58.3% from the April 15th total of 42,947 shares. Approximately 1.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 29,030 shares, the short-interest ratio is currently 0.6 days.

Institutional Investors Weigh In On Direxion Daily S&P 500 Bull 2X Shares

Several large investors have recently added to or reduced their stakes in SPUU. Bison Wealth LLC bought a new stake in Direxion Daily S&P 500 Bull 2X Shares during the fourth quarter valued at $210,000. Tower Research Capital LLC TRC bought a new stake in Direxion Daily S&P 500 Bull 2X Shares during the second quarter valued at $7,678,000. Chung Wu Investment Group LLC boosted its stake in Direxion Daily S&P 500 Bull 2X Shares by 43.8% during the third quarter. Chung Wu Investment Group LLC now owns 920 shares of the company’s stock valued at $165,000 after buying an additional 280 shares during the period. UBS Group AG bought a new stake in Direxion Daily S&P 500 Bull 2X Shares during the third quarter valued at $3,238,000. Finally, Allworth Financial LP boosted its stake in Direxion Daily S&P 500 Bull 2X Shares by 106.4% during the third quarter. Allworth Financial LP now owns 194 shares of the company’s stock valued at $35,000 after buying an additional 100 shares during the period.

Direxion Daily S&P 500 Bull 2X Shares Stock Down 2.5%

NYSEARCA:SPUU traded down $5.39 during trading hours on Friday, hitting $211.72. 22,006 shares of the company’s stock traded hands, compared to its average volume of 30,056. The firm has a market cap of $239.24 million, a P/E ratio of 25.96 and a beta of 2.02. Direxion Daily S&P 500 Bull 2X Shares has a 52 week low of $136.30 and a 52 week high of $217.67. The business’s fifty day simple moving average is $184.97 and its two-hundred day simple moving average is $185.39.

About Direxion Daily S&P 500 Bull 2X Shares

The Direxion Daily S&P 500 Bull 2X Shares (SPUU) is an exchange-traded fund that is based on the S&P 500 index. The fund provides 2x daily leveraged exposure to the S&P 500, a market-cap-weighted index of US large-cap stocks selected by S&Ps index committee. SPUU was launched on May 28, 2014 and is managed by Direxion.