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

Direxion Daily S&P 500 Bull 2X Shares (NYSEARCA:SPUU) was the recipient of a large decrease in short interest in the month of May. As of May 29th, there was short interest totaling 9,139 shares, a decrease of 36.4% from the May 14th total of 14,370 shares. Approximately 0.8% of the shares of the company are sold short. Based on an average trading volume of 15,307 shares, the days-to-cover ratio is currently 0.6 days.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Allworth Financial LP increased its holdings in shares of 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 worth $35,000 after purchasing an additional 100 shares during the period. Chung Wu Investment Group LLC increased its holdings in shares of Direxion Daily S&P 500 Bull 2X Shares by 58.7% during the fourth quarter. Chung Wu Investment Group LLC now owns 1,460 shares of the company’s stock worth $269,000 after purchasing an additional 540 shares during the period. Mariner LLC bought a new position in shares of Direxion Daily S&P 500 Bull 2X Shares during the fourth quarter worth approximately $208,000. Bison Wealth LLC bought a new position in shares of Direxion Daily S&P 500 Bull 2X Shares during the fourth quarter worth approximately $210,000. Finally, CPR Investments Inc. bought a new position in shares of Direxion Daily S&P 500 Bull 2X Shares during the first quarter worth approximately $348,000.

Direxion Daily S&P 500 Bull 2X Shares Price Performance

Direxion Daily S&P 500 Bull 2X Shares stock traded down $0.75 during trading hours on Wednesday, hitting $216.46. The company had a trading volume of 9,463 shares, compared to its average volume of 27,650. The firm has a market cap of $244.60 million, a PE ratio of 25.96 and a beta of 2.02. Direxion Daily S&P 500 Bull 2X Shares has a one year low of $144.54 and a one year high of $223.49. The firm has a 50-day moving average of $204.66 and a 200 day moving average of $190.42.

Direxion Daily S&P 500 Bull 2X Shares Company Profile

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.