Direxion Daily Magnificent 7 Bull 2X Shares (NYSEARCA:QQQU) Short Interest Up 134.5% in July

Direxion Daily Magnificent 7 Bull 2X Shares (NYSEARCA:QQQU) saw a large growth in short interest in the month of July. As of July 15th, there was short interest totaling 38,168 shares, a growth of 134.5% from the June 30th total of 16,277 shares. Approximately 2.9% of the company’s shares are short sold. Based on an average daily trading volume, of 58,142 shares, the short-interest ratio is presently 0.7 days.

Institutional Trading of Direxion Daily Magnificent 7 Bull 2X Shares

Several institutional investors and hedge funds have recently modified their holdings of QQQU. Bank of America Corp DE purchased a new position in Direxion Daily Magnificent 7 Bull 2X Shares during the 4th quarter worth $55,000. Susquehanna International Group LLP bought a new position in shares of Direxion Daily Magnificent 7 Bull 2X Shares during the 3rd quarter worth $978,000. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of Direxion Daily Magnificent 7 Bull 2X Shares by 140.8% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,062 shares of the company’s stock valued at $60,000 after buying an additional 621 shares during the period. HRT Financial LP bought a new stake in shares of Direxion Daily Magnificent 7 Bull 2X Shares in the fourth quarter valued at about $362,000. Finally, CPR Investments Inc. purchased a new stake in Direxion Daily Magnificent 7 Bull 2X Shares in the first quarter worth about $294,000.

Direxion Daily Magnificent 7 Bull 2X Shares Stock Down 2.7%

QQQU traded down $1.35 on Wednesday, reaching $47.85. 26,270 shares of the company traded hands, compared to its average volume of 77,421. The company has a market cap of $63.64 million, a P/E ratio of 34.65 and a beta of 3.09. Direxion Daily Magnificent 7 Bull 2X Shares has a one year low of $38.42 and a one year high of $66.97. The firm has a fifty day simple moving average of $54.73 and a two-hundred day simple moving average of $52.56.

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.