Direxion Daily Magnificent 7 Bull 2X Shares (NYSEARCA:QQQU) Sees Large Decline in Short Interest

Direxion Daily Magnificent 7 Bull 2X Shares (NYSEARCA:QQQU) was the recipient of a large decrease in short interest in May. As of May 29th, there was short interest totaling 24,054 shares, a decrease of 35.1% from the May 14th total of 37,059 shares. Based on an average daily trading volume, of 58,166 shares, the days-to-cover ratio is currently 0.4 days. Currently, 1.3% of the shares of the stock are short sold.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Susquehanna International Group LLP purchased a new position in shares of Direxion Daily Magnificent 7 Bull 2X Shares during the 3rd quarter worth $978,000. CPR Investments Inc. purchased a new position in shares of Direxion Daily Magnificent 7 Bull 2X Shares during the 1st quarter worth $294,000. HRT Financial LP purchased a new position in shares of Direxion Daily Magnificent 7 Bull 2X Shares during the 4th quarter worth $362,000. Bank of America Corp DE purchased a new position in shares of Direxion Daily Magnificent 7 Bull 2X Shares during the 4th quarter worth $55,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of 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 period.

Direxion Daily Magnificent 7 Bull 2X Shares Stock Performance

QQQU stock traded up $0.01 on Tuesday, reaching $55.26. The company had a trading volume of 17,403 shares, compared to its average volume of 82,040. The company has a market cap of $102.23 million, a P/E ratio of 34.65 and a beta of 2.98. The company’s fifty day moving average is $55.84 and its 200 day moving average is $53.76. Direxion Daily Magnificent 7 Bull 2X Shares has a 1 year low of $38.42 and a 1 year high of $66.97.

Direxion Daily Magnificent 7 Bull 2X Shares Company Profile

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.