Direxion Daily S&P 500 Bull 2X Shares (NYSEARCA:SPUU) Short Interest Up 1,955.6% in March

Direxion Daily S&P 500 Bull 2X Shares (NYSEARCA:SPUU) was the recipient of a large increase in short interest during the month of March. As of March 13th, there was short interest totaling 61,955 shares, an increase of 1,955.6% from the February 26th total of 3,014 shares. Approximately 5.0% of the shares of the company are sold short. Based on an average trading volume of 45,865 shares, the days-to-cover ratio is presently 1.4 days.

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

Shares of SPUU stock traded down $5.79 during trading hours on Thursday, reaching $163.26. The company had a trading volume of 21,648 shares, compared to its average volume of 28,749. The business has a fifty day moving average price of $182.55 and a 200-day moving average price of $182.56. Direxion Daily S&P 500 Bull 2X Shares has a one year low of $97.44 and a one year high of $191.80. The firm has a market cap of $200.81 million, a PE ratio of 25.96 and a beta of 2.03.

Institutional Investors Weigh In On Direxion Daily S&P 500 Bull 2X Shares

Hedge funds have recently added to or reduced their stakes in the stock. Allworth Financial LP lifted its holdings in shares of Direxion Daily S&P 500 Bull 2X Shares by 106.4% during the 3rd quarter. Allworth Financial LP now owns 194 shares of the company’s stock valued at $35,000 after buying an additional 100 shares during the period. Chung Wu Investment Group LLC grew its holdings in shares of Direxion Daily S&P 500 Bull 2X Shares by 43.8% in the third quarter. Chung Wu Investment Group LLC now owns 920 shares of the company’s stock worth $165,000 after acquiring an additional 280 shares during the period. Mariner LLC bought a new stake in shares of Direxion Daily S&P 500 Bull 2X Shares in the fourth quarter worth $208,000. Bison Wealth LLC purchased a new stake in Direxion Daily S&P 500 Bull 2X Shares during the fourth quarter valued at $210,000. Finally, Sonoma Allocations LLC purchased a new stake in Direxion Daily S&P 500 Bull 2X Shares during the third quarter valued at $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.