Direxion Daily S&P 500 Bull 2X Shares (NYSEARCA:SPUU) Sees Significant Growth in Short Interest

Direxion Daily S&P 500 Bull 2X Shares (NYSEARCA:SPUU) saw a large growth in short interest during the month of February. As of February 27th, there was short interest totaling 3,014 shares, a growth of 20.4% from the February 12th total of 2,503 shares. Based on an average daily trading volume, of 11,831 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.2% of the shares of the company are short sold. Approximately 0.2% of the shares of the company are short sold. Based on an average daily trading volume, of 11,831 shares, the days-to-cover ratio is presently 0.3 days.

Direxion Daily S&P 500 Bull 2X Shares Trading Up 1.9%

NYSEARCA SPUU traded up $3.26 on Monday, hitting $174.84. 28,145 shares of the company’s stock traded hands, compared to its average volume of 26,857. The firm’s 50-day moving average price is $185.36 and its two-hundred day moving average price is $182.61. The firm has a market capitalization of $215.05 million, a PE ratio of 25.96 and a beta of 2.03. Direxion Daily S&P 500 Bull 2X Shares has a 1-year low of $97.44 and a 1-year high of $191.80.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SPUU. Allworth Financial LP boosted its holdings in Direxion Daily S&P 500 Bull 2X Shares by 106.4% in the third quarter. Allworth Financial LP now owns 194 shares of the company’s stock valued at $35,000 after purchasing an additional 100 shares during the last quarter. SBI Securities Co. Ltd. raised its stake in shares of Direxion Daily S&P 500 Bull 2X Shares by 70.8% during the 2nd quarter. SBI Securities Co. Ltd. now owns 854 shares of the company’s stock valued at $134,000 after buying an additional 354 shares during the last quarter. Chung Wu Investment Group LLC raised its stake in shares of Direxion Daily S&P 500 Bull 2X Shares by 43.8% during the 3rd quarter. Chung Wu Investment Group LLC now owns 920 shares of the company’s stock valued at $165,000 after buying an additional 280 shares during the last quarter. Mariner LLC acquired a new position in shares of Direxion Daily S&P 500 Bull 2X Shares in the 4th quarter valued at about $208,000. Finally, Bison Wealth LLC acquired a new position in shares of Direxion Daily S&P 500 Bull 2X Shares in the 4th quarter valued at about $210,000.

Direxion Daily S&P 500 Bull 2X Shares Company Profile

The Direxion Daily S&P 500 Bull 2X Shares (SPUU) is an exchange-traded fund that is based on the S&P 500 index. The fund provides 2x daily leveraged exposure to the S&P 500, a market-cap-weighted index of US large-cap stocks selected by S&Ps index committee. SPUU was launched on May 28, 2014 and is managed by Direxion.