Direxion Daily Magnificent 7 Bull 2X Shares (NYSEARCA:QQQU) Sees Large Decline in Short Interest

Direxion Daily Magnificent 7 Bull 2X Shares (NYSEARCA:QQQU) was the recipient of a large decrease in short interest in May. As of May 29th, there was short interest totaling 24,054 shares, a decrease of 35.1% from the May 14th total of 37,059 shares. Based on an average daily volume of 58,166 shares, the short-interest ratio is presently 0.4 days. Approximately 1.3% of the company’s stock are short sold.

Direxion Daily Magnificent 7 Bull 2X Shares Price Performance

NYSEARCA QQQU traded up $0.01 during trading hours on Tuesday, hitting $55.26. The company had a trading volume of 17,403 shares, compared to its average volume of 82,040. Direxion Daily Magnificent 7 Bull 2X Shares has a fifty-two week low of $38.42 and a fifty-two week high of $66.97. The company has a market capitalization of $102.23 million, a price-to-earnings ratio of 34.65 and a beta of 2.98. The firm’s 50 day moving average is $55.84 and its 200 day moving average is $53.76.

Institutional Trading of Direxion Daily Magnificent 7 Bull 2X Shares

Several large investors have recently modified their holdings of QQQU. Bank of America Corp DE acquired a new stake in shares of Direxion Daily Magnificent 7 Bull 2X Shares during the fourth quarter valued at about $55,000. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Direxion Daily Magnificent 7 Bull 2X Shares by 140.8% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,062 shares of the company’s stock valued at $60,000 after acquiring an additional 621 shares in the last quarter. CPR Investments Inc. acquired a new stake in shares of Direxion Daily Magnificent 7 Bull 2X Shares during the first quarter valued at about $294,000. HRT Financial LP acquired a new stake in shares of Direxion Daily Magnificent 7 Bull 2X Shares during the fourth quarter valued at about $362,000. Finally, Susquehanna International Group LLP acquired a new stake in shares of Direxion Daily Magnificent 7 Bull 2X Shares during the third quarter valued at about $978,000.

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.