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

Direxion Daily Magnificent 7 Bull 2X Shares (NYSEARCA:QQQU) saw a large decline in short interest during the month of March. As of March 31st, there was short interest totaling 37,114 shares, a decline of 13.5% from the March 15th total of 42,889 shares. Based on an average trading volume of 90,361 shares, the short-interest ratio is currently 0.4 days. Approximately 1.9% of the company’s shares are short sold.

Direxion Daily Magnificent 7 Bull 2X Shares Stock Up 4.4%

Shares of NYSEARCA QQQU traded up $2.36 during midday trading on Friday, reaching $56.01. The company had a trading volume of 44,081 shares, compared to its average volume of 82,816. Direxion Daily Magnificent 7 Bull 2X Shares has a one year low of $23.90 and a one year high of $66.97. The firm’s fifty day moving average price is $47.19 and its 200-day moving average price is $54.33. The stock has a market cap of $102.50 million, a PE ratio of 34.65 and a beta of 3.07.

Institutional Investors Weigh In On Direxion Daily Magnificent 7 Bull 2X Shares

Hedge funds and other institutional investors have recently modified their holdings of the stock. Southland Equity Partners LLC bought a new stake in shares of Direxion Daily Magnificent 7 Bull 2X Shares in the 3rd quarter valued at about $592,000. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of Direxion Daily Magnificent 7 Bull 2X Shares by 140.8% in the 4th 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 during the last quarter. 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. HRT Financial LP bought a new stake in shares of Direxion Daily Magnificent 7 Bull 2X Shares in the 4th quarter valued at about $362,000. Finally, Bank of America Corp DE bought a new stake in shares of Direxion Daily Magnificent 7 Bull 2X Shares in the 4th quarter valued at about $55,000.

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.