Direxion Daily Magnificent 7 Bull 2X Shares (NYSEARCA:QQQU) Short Interest Down 61.9% in July

Direxion Daily Magnificent 7 Bull 2X Shares (NYSEARCA:QQQU) was the recipient of a significant decrease in short interest in July. As of July 31st, there was short interest totaling 14,558 shares, a decrease of 61.9% from the July 15th total of 38,168 shares. Based on an average daily volume of 46,281 shares, the short-interest ratio is currently 0.3 days. Currently, 1.1% of the company’s shares are sold short.

Direxion Daily Magnificent 7 Bull 2X Shares Price Performance

QQQU traded down $0.30 during mid-day trading on Friday, hitting $56.86. The stock had a trading volume of 16,749 shares, compared to its average volume of 74,627. The stock’s fifty day simple moving average is $53.53 and its 200-day simple moving average is $52.66. The firm has a market capitalization of $75.62 million, a price-to-earnings ratio of 34.65 and a beta of 3.06. Direxion Daily Magnificent 7 Bull 2X Shares has a 1-year low of $38.42 and a 1-year high of $66.97.

Institutional Trading of Direxion Daily Magnificent 7 Bull 2X Shares

Several hedge funds have recently added to or reduced their stakes in QQQU. HRT Financial LP acquired a new position in Direxion Daily Magnificent 7 Bull 2X Shares in the fourth quarter valued at about $362,000. Susquehanna International Group LLP acquired a new stake in shares of Direxion Daily Magnificent 7 Bull 2X Shares during the third quarter worth about $978,000. Bank of America Corp DE acquired a new stake in shares of Direxion Daily Magnificent 7 Bull 2X Shares during the fourth quarter worth about $55,000. Finally, CPR Investments Inc. bought a new position in shares of Direxion Daily Magnificent 7 Bull 2X Shares during the 1st quarter valued at about $294,000.

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.