Direxion Daily NYSE FANG+ Bull 2X ETF (NYSEARCA:FNGG – Get Free Report) was the recipient of a large growth in short interest during the month of August. As of August 31st, there was short interest totaling 11,955 shares, a growth of 256.2% from the August 15th total of 3,356 shares. Currently, 2.3% of the company’s stock are short sold. Based on an average daily volume of 6,860 shares, the days-to-cover ratio is currently 1.7 days.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the company. Larson Financial Group LLC lifted its stake in Direxion Daily NYSE FANG+ Bull 2X ETF by 223.2% in the 3rd quarter. Larson Financial Group LLC now owns 640 shares of the company’s stock valued at $155,000 after purchasing an additional 442 shares during the last quarter. Wealth Watch Advisors INC bought a new stake in Direxion Daily NYSE FANG+ Bull 2X ETF in the third quarter valued at approximately $109,000. Simplex Trading LLC raised its stake in Direxion Daily NYSE FANG+ Bull 2X ETF by 228.7% in the fourth quarter. Simplex Trading LLC now owns 1,926 shares of the company’s stock valued at $397,000 after buying an additional 1,340 shares during the period. Finally, Meadowbrook Wealth Management LLC acquired a new stake in shares of Direxion Daily NYSE FANG+ Bull 2X ETF in the second quarter valued at approximately $340,000.
Direxion Daily NYSE FANG+ Bull 2X ETF Trading Up 1.7%
Shares of Direxion Daily NYSE FANG+ Bull 2X ETF stock traded up $4.35 on Friday, reaching $262.19. 1,093 shares of the company were exchanged, compared to its average volume of 8,804. The company has a market capitalization of $138.96 million, a price-to-earnings ratio of 42.08 and a beta of 2.83. Direxion Daily NYSE FANG+ Bull 2X ETF has a one year low of $139.12 and a one year high of $276.00. The company has a 50-day moving average of $248.21 and a 200 day moving average of $219.90.
Direxion Daily NYSE FANG+ Bull 2X ETF Company Profile
The Direxion Daily Select Large Caps & FANGs Bull 2X Shares (FNGG) is an exchange-traded fund that is based on the ICE FANG 20 index. The fund provides 2x the daily price movements of an equal-weighted index consists of FANG stocks and other growth stocks of technology and tech-enabled companies. FNGG was launched on Sep 30, 2021 and is managed by Direxion.
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