Direxion Daily Magnificent 7 Bull 2X Shares (NYSEARCA:QQQU) Short Interest Down 40.0% in February

Direxion Daily Magnificent 7 Bull 2X Shares (NYSEARCA:QQQU) was the target of a large decline in short interest during the month of February. As of February 13th, there was short interest totaling 15,183 shares, a decline of 40.0% from the January 29th total of 25,300 shares. Approximately 0.8% of the shares of the company are short sold. Based on an average trading volume of 66,091 shares, the days-to-cover ratio is presently 0.2 days. Based on an average trading volume of 66,091 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.8% of the shares of the company are short sold.

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

Institutional investors have recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Direxion Daily Magnificent 7 Bull 2X Shares by 140.8% during the 4th 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 last quarter. Bank of America Corp DE bought a new position in Direxion Daily Magnificent 7 Bull 2X Shares during the 4th quarter worth $55,000. SBI Securities Co. Ltd. lifted its holdings in shares of Direxion Daily Magnificent 7 Bull 2X Shares by 262.5% during the second quarter. SBI Securities Co. Ltd. now owns 3,273 shares of the company’s stock worth $142,000 after buying an additional 2,370 shares in the last quarter. Financial & Tax Architects LLC bought a new stake in shares of Direxion Daily Magnificent 7 Bull 2X Shares in the second quarter valued at about $207,000. Finally, HRT Financial LP acquired a new position in shares of Direxion Daily Magnificent 7 Bull 2X Shares in the fourth quarter valued at about $362,000.

Direxion Daily Magnificent 7 Bull 2X Shares Price Performance

QQQU stock opened at $48.14 on Friday. Direxion Daily Magnificent 7 Bull 2X Shares has a one year low of $22.55 and a one year high of $66.97. The stock has a market cap of $93.87 million, a price-to-earnings ratio of 34.65 and a beta of 2.99. The company has a fifty day moving average price of $53.73 and a two-hundred day moving average price of $56.07.

Direxion Daily Magnificent 7 Bull 2X Shares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 17th. Investors of record on Wednesday, December 10th were paid a $5.3084 dividend. The ex-dividend date was Wednesday, December 10th. This represents a $21.23 dividend on an annualized basis and a yield of 44.1%.

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.