Short Interest in Direxion Daily AAPL Bull 2X Shares (NASDAQ:AAPU) Drops By 72.5%

Direxion Daily AAPL Bull 2X Shares (NASDAQ:AAPU) was the target of a significant drop in short interest in May. As of May 29th, there was short interest totaling 191,868 shares, a drop of 72.5% from the May 14th total of 696,905 shares. Approximately 3.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,551,862 shares, the days-to-cover ratio is presently 0.1 days.

Direxion Daily AAPL Bull 2X Shares Stock Performance

Shares of AAPU traded down $1.35 during mid-day trading on Friday, reaching $35.73. 1,215,056 shares of the company were exchanged, compared to its average volume of 2,342,304. The stock has a market capitalization of $215.45 million, a PE ratio of 25.83 and a beta of 1.73. The business has a 50 day simple moving average of $35.00 and a two-hundred day simple moving average of $33.06. Direxion Daily AAPL Bull 2X Shares has a 52 week low of $20.00 and a 52 week high of $42.86.

Direxion Daily AAPL Bull 2X Shares Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 24th were given a dividend of $0.1727 per share. The ex-dividend date of this dividend was Tuesday, March 24th. This represents a $0.69 annualized dividend and a dividend yield of 1.9%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Jane Street Group LLC increased its stake in Direxion Daily AAPL Bull 2X Shares by 703.1% in the 1st quarter. Jane Street Group LLC now owns 157,807 shares of the company’s stock worth $4,428,000 after acquiring an additional 138,158 shares during the last quarter. Raymond James Financial Inc. bought a new position in Direxion Daily AAPL Bull 2X Shares in the 2nd quarter worth about $50,000. Group One Trading LLC bought a new position in shares of Direxion Daily AAPL Bull 2X Shares during the 2nd quarter valued at about $189,000. Tower Research Capital LLC TRC bought a new position in shares of Direxion Daily AAPL Bull 2X Shares during the 2nd quarter valued at about $693,000. Finally, Optiver Holding B.V. bought a new position in shares of Direxion Daily AAPL Bull 2X Shares during the 3rd quarter valued at about $303,000.

Direxion Daily AAPL Bull 2X Shares Company Profile

The Direxion Daily AAPL Bull 1.5X Shares (AAPU) is an exchange-traded fund that is based on the Apple Inc index. The fund provides 1.5x leveraged exposure, less fees and expenses, to the daily price movement for shares of Apple stock. AAPU was launched on Aug 9, 2022 and is managed by Direxion.