Direxion Daily S&P 500 Bull 2X Shares (NYSEARCA:SPUU) Short Interest Up 138.3% in April

Direxion Daily S&P 500 Bull 2X Shares (NYSEARCA:SPUU) was the target of a large growth in short interest in April. As of April 15th, there was short interest totaling 42,947 shares, a growth of 138.3% from the March 31st total of 18,022 shares. Based on an average daily volume of 41,944 shares, the days-to-cover ratio is currently 1.0 days. Approximately 3.6% of the shares of the stock are sold short.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bison Wealth LLC purchased a new stake in Direxion Daily S&P 500 Bull 2X Shares in the fourth quarter valued at approximately $210,000. Sonoma Allocations LLC purchased a new stake in Direxion Daily S&P 500 Bull 2X Shares in the third quarter valued at approximately $222,000. Chung Wu Investment Group LLC raised its position in 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 valued at $165,000 after purchasing an additional 280 shares during the period. Allworth Financial LP raised its position in Direxion Daily S&P 500 Bull 2X Shares by 106.4% in the third quarter. Allworth Financial LP now owns 194 shares of the company’s stock valued at $35,000 after purchasing an additional 100 shares during the period. Finally, Mariner LLC purchased a new stake in Direxion Daily S&P 500 Bull 2X Shares in the fourth quarter valued at approximately $208,000.

Direxion Daily S&P 500 Bull 2X Shares Stock Up 1.6%

SPUU traded up $3.10 during trading on Friday, reaching $198.19. The company’s stock had a trading volume of 13,753 shares, compared to its average volume of 31,935. The firm has a fifty day simple moving average of $179.14 and a two-hundred day simple moving average of $182.91. Direxion Daily S&P 500 Bull 2X Shares has a 1 year low of $122.49 and a 1 year high of $198.48. The company has a market cap of $233.86 million, a price-to-earnings ratio of 25.96 and a beta of 2.01.

About Direxion Daily S&P 500 Bull 2X Shares

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.