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

by · The Markets Daily

Direxion Daily Magnificent 7 Bull 2X ETF (NYSEARCA:QQQU – Get Free Report) saw a significant increase in short interest in October. As of October 15th, there was short interest totaling 46,495 shares, an increase of 153.9% from the September 30th total of 18,311 shares. Based on an average daily volume of 30,253 shares, the days-to-cover ratio is presently 1.5 days. Currently, 3.8% of the company’s stock are sold short.

Institutional Trading of Direxion Daily Magnificent 7 Bull 2X ETF

An institutional investor recently bought a new stake in Direxion Daily Magnificent 7 Bull 2X ETF stock. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Direxion Daily Magnificent 7 Bull 2X ETF (NYSEARCA:QQQU – Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 441 shares of the company’s stock, valued at approximately $27,000.

Direxion Daily Magnificent 7 Bull 2X ETF Price Performance

Direxion Daily Magnificent 7 Bull 2X ETF stock traded down $2.00 during mid-day trading on Friday, reaching $56.22. 45,732 shares of the company traded hands, compared to its average volume of 62,500. The firm’s fifty day moving average is $60.76 and its two-hundred day moving average is $54.82. The company has a market capitalization of $69.15 million, a price-to-earnings ratio of 34.65 and a beta of 3.02. Direxion Daily Magnificent 7 Bull 2X ETF has a fifty-two week low of $38.42 and a fifty-two week high of $67.30.

Direxion Daily Magnificent 7 Bull 2X ETF Company Profile

(Get Free Report)

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.

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