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

Direxion Daily S&P 500 Bull 2X Shares (NYSEARCA:SPUU) saw a significant decrease in short interest in December. As of December 31st, there was short interest totaling 10,164 shares, a decrease of 55.6% from the December 15th total of 22,916 shares. Based on an average daily volume of 28,473 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.8% of the company’s shares are short sold. Approximately 0.8% of the company’s shares are short sold. Based on an average daily volume of 28,473 shares, the days-to-cover ratio is presently 0.4 days.

Direxion Daily S&P 500 Bull 2X Shares Stock Performance

Direxion Daily S&P 500 Bull 2X Shares stock traded up $0.14 during midday trading on Friday, hitting $189.75. 5,532 shares of the company’s stock were exchanged, compared to its average volume of 22,034. The company has a market cap of $242.88 million, a PE ratio of 25.96 and a beta of 2.03. The firm has a 50-day moving average of $184.97 and a two-hundred day moving average of $176.08. Direxion Daily S&P 500 Bull 2X Shares has a 12 month low of $97.44 and a 12 month high of $191.64.

Direxion Daily S&P 500 Bull 2X Shares Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 17th. Stockholders of record on Wednesday, December 10th were issued a $1.9058 dividend. The ex-dividend date was Wednesday, December 10th. This represents a $7.62 dividend on an annualized basis and a dividend yield of 4.0%. This is a boost from Direxion Daily S&P 500 Bull 2X Shares’s previous quarterly dividend of $0.24.

Institutional Trading of Direxion Daily S&P 500 Bull 2X Shares

Several hedge funds have recently modified their holdings of the company. Allworth Financial LP boosted its stake 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 acquiring an additional 100 shares in the last quarter. Legacy Investment Solutions LLC acquired a new stake in shares of Direxion Daily S&P 500 Bull 2X Shares in the 2nd quarter worth $75,000. Chung Wu Investment Group LLC acquired a new position in Direxion Daily S&P 500 Bull 2X Shares during the 2nd quarter valued at about $100,000. SBI Securities Co. Ltd. increased its position in 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 in the last quarter. Finally, Bison Wealth LLC purchased a new stake in Direxion Daily S&P 500 Bull 2X Shares in the fourth quarter valued at about $210,000.

About Direxion Daily S&P 500 Bull 2X Shares

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.