Direxion Daily S&P 500 Bull 2X Shares (NYSEARCA:SPUU) Sees Significant Drop in Short Interest

Direxion Daily S&P 500 Bull 2X Shares (NYSEARCA:SPUU) was the target of a large decrease in short interest in December. As of December 31st, there was short interest totaling 10,164 shares, a decrease of 55.6% from the December 15th total of 22,916 shares. Based on an average daily volume of 28,473 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.8% of the company’s stock are short sold. Currently, 0.8% of the company’s stock are short sold. Based on an average daily volume of 28,473 shares, the days-to-cover ratio is presently 0.4 days.

Direxion Daily S&P 500 Bull 2X Shares Price Performance

SPUU traded down $1.68 during trading on Wednesday, reaching $188.58. The company had a trading volume of 12,685 shares, compared to its average volume of 24,643. The company has a market cap of $241.38 million, a P/E ratio of 25.96 and a beta of 2.03. Direxion Daily S&P 500 Bull 2X Shares has a 12 month low of $97.44 and a 12 month high of $191.64. The business’s fifty day moving average price is $184.79 and its 200 day moving average price is $175.99.

Direxion Daily S&P 500 Bull 2X Shares Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 17th. Shareholders of record on Wednesday, December 10th were given a dividend of $1.9058 per share. This is an increase from Direxion Daily S&P 500 Bull 2X Shares’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Wednesday, December 10th. This represents a $7.62 dividend on an annualized basis and a yield of 4.0%.

Institutional Trading of Direxion Daily S&P 500 Bull 2X Shares

Hedge funds and other institutional investors have recently made changes to their positions in the business. Allworth Financial LP boosted its holdings in Direxion Daily S&P 500 Bull 2X Shares by 106.4% during the third quarter. Allworth Financial LP now owns 194 shares of the company’s stock worth $35,000 after purchasing an additional 100 shares during the last quarter. Chung Wu Investment Group LLC lifted its position in Direxion Daily S&P 500 Bull 2X Shares by 43.8% during the 3rd quarter. Chung Wu Investment Group LLC now owns 920 shares of the company’s stock worth $165,000 after buying an additional 280 shares in the last quarter. SBI Securities Co. Ltd. boosted its stake in shares of Direxion Daily S&P 500 Bull 2X Shares by 70.8% during the 2nd quarter. SBI Securities Co. Ltd. now owns 854 shares of the company’s stock worth $134,000 after buying an additional 354 shares during the last quarter. Legacy Investment Solutions LLC acquired a new position in shares of Direxion Daily S&P 500 Bull 2X Shares during the 2nd quarter worth about $75,000. Finally, Sonoma Allocations LLC bought a new position in shares of Direxion Daily S&P 500 Bull 2X Shares in the 3rd quarter valued at about $222,000.

Direxion Daily S&P 500 Bull 2X Shares Company Profile

The Direxion Daily S&P 500 Bull 2X Shares (SPUU) is an exchange-traded fund that is based on the S&P 500 index. The fund provides 2x daily leveraged exposure to the S&P 500, a market-cap-weighted index of US large-cap stocks selected by S&Ps index committee. SPUU was launched on May 28, 2014 and is managed by Direxion.