Direxion Daily Magnificent 7 Bull 2X Shares (NYSEARCA:QQQU) Short Interest Up 191.4% in March

Direxion Daily Magnificent 7 Bull 2X Shares (NYSEARCA:QQQU) was the recipient of a significant growth in short interest during the month of March. As of March 13th, there was short interest totaling 42,889 shares, a growth of 191.4% from the February 26th total of 14,719 shares. Approximately 2.2% of the shares of the company are short sold. Based on an average daily trading volume, of 70,248 shares, the days-to-cover ratio is presently 0.6 days.

Direxion Daily Magnificent 7 Bull 2X Shares Stock Performance

Shares of NYSEARCA QQQU traded down $2.80 during mid-day trading on Thursday, hitting $41.28. The stock had a trading volume of 94,163 shares, compared to its average volume of 72,694. The firm has a market cap of $80.50 million, a PE ratio of 34.65 and a beta of 2.99. The company has a 50 day moving average of $49.95 and a two-hundred day moving average of $55.52. Direxion Daily Magnificent 7 Bull 2X Shares has a twelve month low of $22.55 and a twelve month high of $66.97.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of QQQU. Southland Equity Partners LLC purchased a new position in shares of Direxion Daily Magnificent 7 Bull 2X Shares in the third quarter worth about $592,000. Susquehanna International Group LLP purchased a new stake in Direxion Daily Magnificent 7 Bull 2X Shares in the third quarter valued at approximately $978,000. HRT Financial LP acquired a new position in Direxion Daily Magnificent 7 Bull 2X Shares in the 4th quarter worth approximately $362,000. Bank of America Corp DE acquired a new position in Direxion Daily Magnificent 7 Bull 2X Shares in the 4th quarter worth approximately $55,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its position in 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 buying an additional 621 shares during the last quarter.

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.