Short Interest in Direxion Daily Magnificent 7 Bull 2X Shares (NYSEARCA:QQQU) Increases By 87.5%

Direxion Daily Magnificent 7 Bull 2X Shares (NYSEARCA:QQQU) was the target of a large growth in short interest during the month of January. As of January 15th, there was short interest totaling 27,240 shares, a growth of 87.5% from the December 31st total of 14,525 shares. Approximately 1.4% of the shares of the stock are sold short. Based on an average trading volume of 73,059 shares, the short-interest ratio is presently 0.4 days. Based on an average trading volume of 73,059 shares, the short-interest ratio is presently 0.4 days. Approximately 1.4% of the shares of the stock are sold short.

Institutional Trading of Direxion Daily Magnificent 7 Bull 2X Shares

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Susquehanna International Group LLP bought a new stake in shares of Direxion Daily Magnificent 7 Bull 2X Shares in the 3rd quarter valued at about $978,000. Southland Equity Partners LLC acquired a new position in shares of Direxion Daily Magnificent 7 Bull 2X Shares in the third quarter worth approximately $592,000. Financial & Tax Architects LLC acquired a new stake in Direxion Daily Magnificent 7 Bull 2X Shares during the 2nd quarter valued at approximately $207,000. SBI Securities Co. Ltd. raised its holdings in Direxion Daily Magnificent 7 Bull 2X Shares by 262.5% during the 2nd quarter. SBI Securities Co. Ltd. now owns 3,273 shares of the company’s stock worth $142,000 after purchasing an additional 2,370 shares during the last quarter. Finally, Bank of America Corp DE bought a new position in Direxion Daily Magnificent 7 Bull 2X Shares during the 4th quarter worth approximately $55,000.

Direxion Daily Magnificent 7 Bull 2X Shares Stock Down 0.6%

Shares of QQQU stock traded down $0.36 during mid-day trading on Friday, reaching $56.43. 69,598 shares of the stock traded hands, compared to its average volume of 82,185. The company has a market cap of $107.22 million, a price-to-earnings ratio of 34.65 and a beta of 2.99. The stock’s fifty day simple moving average is $57.24 and its two-hundred day simple moving average is $55.64. Direxion Daily Magnificent 7 Bull 2X Shares has a 1-year low of $22.55 and a 1-year high of $66.97.

Direxion Daily Magnificent 7 Bull 2X Shares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 17th. Shareholders of record on Wednesday, December 10th were given a $5.3084 dividend. This represents a $21.23 annualized dividend and a yield of 37.6%. The ex-dividend date was Wednesday, December 10th.

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.