Short Interest in Direxion Daily NYSE FANG+ Bull 2X Shares (NYSEARCA:FNGG) Decreases By 48.7%

Direxion Daily NYSE FANG+ Bull 2X Shares (NYSEARCA:FNGG) saw a significant drop in short interest during the month of July. As of July 31st, there was short interest totaling 3,421 shares, a drop of 48.7% from the July 15th total of 6,669 shares. Based on an average daily volume of 3,334 shares, the short-interest ratio is presently 1.0 days. Currently, 0.6% of the company’s stock are short sold.

Hedge Funds Weigh In On Direxion Daily NYSE FANG+ Bull 2X Shares

Hedge funds have recently modified their holdings of the stock. SBI Securities Co. Ltd. raised its holdings in Direxion Daily NYSE FANG+ Bull 2X Shares by 1.5% during the fourth quarter. SBI Securities Co. Ltd. now owns 12,024 shares of the company’s stock worth $2,480,000 after acquiring an additional 177 shares in the last quarter. Simplex Trading LLC increased its position in shares of Direxion Daily NYSE FANG+ Bull 2X Shares by 228.7% during the 4th quarter. Simplex Trading LLC now owns 1,926 shares of the company’s stock worth $397,000 after purchasing an additional 1,340 shares during the last quarter. Meadowbrook Wealth Management LLC acquired a new position in shares of Direxion Daily NYSE FANG+ Bull 2X Shares during the 2nd quarter worth approximately $340,000. Larson Financial Group LLC raised its stake in shares of Direxion Daily NYSE FANG+ Bull 2X Shares by 223.2% during the 3rd quarter. Larson Financial Group LLC now owns 640 shares of the company’s stock worth $155,000 after purchasing an additional 442 shares in the last quarter. Finally, Wealth Watch Advisors INC bought a new stake in shares of Direxion Daily NYSE FANG+ Bull 2X Shares during the 3rd quarter worth approximately $109,000.

Direxion Daily NYSE FANG+ Bull 2X Shares Stock Down 1.7%

Shares of FNGG stock traded down $4.38 during trading on Monday, reaching $260.34. The company’s stock had a trading volume of 5,696 shares, compared to its average volume of 9,206. Direxion Daily NYSE FANG+ Bull 2X Shares has a one year low of $139.12 and a one year high of $276.00. The business has a fifty day moving average price of $233.95 and a 200-day moving average price of $208.53. The company has a market cap of $137.98 million, a price-to-earnings ratio of 42.08 and a beta of 2.82.

About Direxion Daily NYSE FANG+ Bull 2X Shares

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.