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

Direxion Daily S&P 500 Bull 2X Shares (NYSEARCA:SPUU) was the recipient of a large growth in short interest in the month of February. As of February 27th, there was short interest totaling 3,014 shares, a growth of 20.4% from the February 12th total of 2,503 shares. Currently, 0.2% of the shares of the company are sold short. Based on an average daily volume of 11,831 shares, the short-interest ratio is currently 0.3 days. Based on an average daily volume of 11,831 shares, the short-interest ratio is currently 0.3 days. Currently, 0.2% of the shares of the company are sold short.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Exchange Traded Concepts LLC raised its stake in shares of Direxion Daily S&P 500 Bull 2X Shares by 78.1% during the third quarter. Exchange Traded Concepts LLC now owns 115,597 shares of the company’s stock valued at $20,785,000 after purchasing an additional 50,700 shares in the last quarter. SBI Securities Co. Ltd. lifted its holdings in Direxion Daily S&P 500 Bull 2X Shares by 70.8% in the second quarter. SBI Securities Co. Ltd. now owns 854 shares of the company’s stock worth $134,000 after purchasing an additional 354 shares during the period. Bison Wealth LLC bought a new position in Direxion Daily S&P 500 Bull 2X Shares in the 4th quarter valued at about $210,000. Chung Wu Investment Group LLC increased its stake in Direxion Daily S&P 500 Bull 2X Shares by 43.8% during the 3rd 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. Finally, Virtu Financial LLC increased its stake in Direxion Daily S&P 500 Bull 2X Shares by 295.8% during the 4th quarter. Virtu Financial LLC now owns 35,007 shares of the company’s stock valued at $6,445,000 after buying an additional 26,163 shares during the period.

Direxion Daily S&P 500 Bull 2X Shares Trading Up 0.5%

Shares of NYSEARCA:SPUU opened at $175.78 on Wednesday. The firm’s 50 day moving average is $185.08 and its two-hundred day moving average is $182.66. The firm has a market capitalization of $216.21 million, a P/E ratio of 25.96 and a beta of 2.03. Direxion Daily S&P 500 Bull 2X Shares has a 52 week low of $97.44 and a 52 week high of $191.80.

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.