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

Direxion Daily Magnificent 7 Bull 2X Shares (NYSEARCA:QQQU) was the target of a large decline in short interest in February. As of February 13th, there was short interest totaling 15,183 shares, a decline of 40.0% from the January 29th total of 25,300 shares. Approximately 0.8% of the company’s stock are short sold. Based on an average trading volume of 66,091 shares, the days-to-cover ratio is presently 0.2 days. Based on an average trading volume of 66,091 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.8% of the company’s stock are short sold.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. HRT Financial LP acquired a new stake in Direxion Daily Magnificent 7 Bull 2X Shares in the 4th quarter valued at $362,000. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of Direxion Daily Magnificent 7 Bull 2X Shares by 140.8% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,062 shares of the company’s stock valued at $60,000 after acquiring an additional 621 shares in the last quarter. Susquehanna International Group LLP bought a new position in shares of Direxion Daily Magnificent 7 Bull 2X Shares in the 3rd quarter valued at about $978,000. Southland Equity Partners LLC acquired a new stake in shares of Direxion Daily Magnificent 7 Bull 2X Shares in the third quarter valued at about $592,000. Finally, Financial & Tax Architects LLC bought a new stake in Direxion Daily Magnificent 7 Bull 2X Shares during the second quarter worth about $207,000.

Direxion Daily Magnificent 7 Bull 2X Shares Trading Down 2.7%

Shares of QQQU stock traded down $1.36 on Friday, hitting $48.14. 53,647 shares of the stock were exchanged, compared to its average volume of 76,080. The firm has a market capitalization of $93.87 million, a P/E ratio of 34.65 and a beta of 2.99. Direxion Daily Magnificent 7 Bull 2X Shares has a fifty-two week low of $22.55 and a fifty-two week high of $66.97. The business has a 50-day moving average of $53.73 and a 200 day moving average of $56.13.

Direxion Daily Magnificent 7 Bull 2X Shares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 17th. Stockholders of record on Wednesday, December 10th were paid a dividend of $5.3084 per share. This represents a $21.23 annualized dividend and a dividend yield of 44.1%. The ex-dividend date of this dividend was Wednesday, December 10th.

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.