Direxion Daily Magnificent 7 Bull 2X ETF (NYSEARCA:QQQU) Stock Falls 3.4% – What’s Next?

Direxion Daily Magnificent 7 Bull 2X ETF (NYSEARCA:QQQU)’s stock price fell 3.4% on Monday. The company traded as low as $61.71 and last traded at $61.76. 28,069 shares changed hands during mid-day trading, a decline of 58% from the average session volume of 66,427 shares. The stock had previously closed at $63.94.

Direxion Daily Magnificent 7 Bull 2X ETF Price Performance

The stock has a market cap of $80.21 million, a PE ratio of 34.65 and a beta of 3.07. The company’s fifty day moving average is $57.04 and its 200-day moving average is $54.43.

Institutional Trading of Direxion Daily Magnificent 7 Bull 2X ETF

An institutional investor recently bought a new position in Direxion Daily Magnificent 7 Bull 2X ETF stock. CPR Investments Inc. bought a new position in shares of Direxion Daily Magnificent 7 Bull 2X ETF (NYSEARCA:QQQU) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 6,937 shares of the company’s stock, valued at approximately $294,000. CPR Investments Inc. owned 0.38% of Direxion Daily Magnificent 7 Bull 2X ETF as of its most recent SEC filing.

About Direxion Daily Magnificent 7 Bull 2X ETF

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.