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

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

Direxion Daily Magnificent 7 Bull 2X Shares Stock Up 3.4%

Shares of QQQU stock traded up $1.82 during trading hours on Friday, hitting $55.47. 90,269 shares of the company were exchanged, compared to its average volume of 83,554. The firm has a market cap of $101.51 million, a PE ratio of 34.65 and a beta of 3.07. The firm has a fifty day moving average of $47.27 and a 200 day moving average of $54.31. Direxion Daily Magnificent 7 Bull 2X Shares has a 1 year low of $23.90 and a 1 year high of $66.97.

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

A number of hedge funds have recently added to or reduced their stakes in the business. CPR Investments Inc. acquired a new position in Direxion Daily Magnificent 7 Bull 2X Shares in the first quarter worth $294,000. HRT Financial LP bought a new stake in Direxion Daily Magnificent 7 Bull 2X Shares in the fourth quarter valued at $362,000. Thurston Springer Miller Herd & Titak Inc. lifted its stake in Direxion Daily Magnificent 7 Bull 2X Shares by 140.8% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,062 shares of the company’s stock valued at $60,000 after buying an additional 621 shares during the last quarter. Susquehanna International Group LLP bought a new stake in Direxion Daily Magnificent 7 Bull 2X Shares in the third quarter valued at $978,000. Finally, Southland Equity Partners LLC bought a new stake in Direxion Daily Magnificent 7 Bull 2X Shares in the third quarter valued at $592,000.

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.