Direxion Daily Magnificent 7 Bull 2X ETF (NYSEARCA:QQQU) Stock Short Interest Rises 96.5%

Direxion Daily Magnificent 7 Bull 2X ETF (NYSEARCA:QQQU) saw a large growth in short interest in the month of September. As of September 30th, there was short interest totaling 18,311 shares, a growth of 96.5% from the September 15th total of 9,320 shares. Currently, 1.5% of the company’s shares are sold short. Based on an average daily volume of 29,340 shares, the days-to-cover ratio is currently 0.6 days.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Direxion Daily Magnificent 7 Bull 2X ETF stock. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Direxion Daily Magnificent 7 Bull 2X ETF (NYSEARCA:QQQU) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 441 shares of the company’s stock, valued at approximately $27,000.

Direxion Daily Magnificent 7 Bull 2X ETF Price Performance

NYSEARCA:QQQU traded down $2.40 during midday trading on Friday, hitting $61.19. The company’s stock had a trading volume of 47,877 shares, compared to its average volume of 63,890. The firm’s 50 day moving average is $59.89 and its 200-day moving average is $56.10. The firm has a market cap of $75.26 million, a P/E ratio of 34.65 and a beta of 3.02. Direxion Daily Magnificent 7 Bull 2X ETF has a fifty-two week low of $38.42 and a fifty-two week high of $67.30.

About Direxion Daily Magnificent 7 Bull 2X ETF

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.