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

Direxion Daily Magnificent 7 Bull 2X Shares (NYSEARCA:QQQU) was the target of a significant increase in short interest in the month of January. As of January 15th, there was short interest totaling 27,240 shares, an increase of 87.5% from the December 31st total of 14,525 shares. Based on an average daily volume of 73,059 shares, the short-interest ratio is presently 0.4 days. Approximately 1.4% of the company’s shares are sold short. Approximately 1.4% of the company’s shares are sold short. Based on an average daily volume of 73,059 shares, the short-interest ratio is presently 0.4 days.

Direxion Daily Magnificent 7 Bull 2X Shares Stock Down 0.6%

Shares of NYSEARCA QQQU traded down $0.36 during trading hours on Friday, hitting $56.43. The company had a trading volume of 69,598 shares, compared to its average volume of 82,185. The firm’s 50 day moving average is $57.24 and its 200-day moving average is $55.72. The stock has a market capitalization of $107.22 million, a P/E ratio of 34.65 and a beta of 2.99. Direxion Daily Magnificent 7 Bull 2X Shares has a 1-year low of $22.55 and a 1-year high of $66.97.

Direxion Daily Magnificent 7 Bull 2X Shares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 17th. Stockholders of record on Wednesday, December 10th were issued a $5.3084 dividend. The ex-dividend date of this dividend was Wednesday, December 10th. This represents a $21.23 dividend on an annualized basis and a dividend yield of 37.6%.

Hedge Funds Weigh In On Direxion Daily Magnificent 7 Bull 2X Shares

A number of hedge funds have recently modified their holdings of QQQU. Susquehanna International Group LLP purchased a new stake in shares of Direxion Daily Magnificent 7 Bull 2X Shares during the third quarter worth $978,000. Southland Equity Partners LLC bought a new stake in shares of Direxion Daily Magnificent 7 Bull 2X Shares during the 3rd quarter valued at $592,000. Financial & Tax Architects LLC bought a new stake in shares of Direxion Daily Magnificent 7 Bull 2X Shares during the 2nd quarter valued at $207,000. SBI Securities Co. Ltd. lifted its holdings in Direxion Daily Magnificent 7 Bull 2X Shares by 262.5% during the 2nd quarter. SBI Securities Co. Ltd. now owns 3,273 shares of the company’s stock worth $142,000 after purchasing an additional 2,370 shares in the last quarter. Finally, Bank of America Corp DE bought a new position in Direxion Daily Magnificent 7 Bull 2X Shares in the 4th quarter worth 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.