Short Interest in Direxion Daily S&P 500 Bull 2X Shares (NYSEARCA:SPUU) Drops By 58.3%

Direxion Daily S&P 500 Bull 2X Shares (NYSEARCA:SPUU) was the target of a large decrease in short interest in April. As of April 30th, there was short interest totaling 17,922 shares, a decrease of 58.3% from the April 15th total of 42,947 shares. Based on an average daily trading volume, of 29,030 shares, the short-interest ratio is currently 0.6 days. Approximately 1.6% of the company’s shares are sold short.

Hedge Funds Weigh In On Direxion Daily S&P 500 Bull 2X Shares

Institutional investors have recently modified their holdings of the business. Bison Wealth LLC acquired a new position in shares of Direxion Daily S&P 500 Bull 2X Shares in the 4th quarter valued at approximately $210,000. Tower Research Capital LLC TRC acquired a new stake in Direxion Daily S&P 500 Bull 2X Shares during the 2nd quarter worth approximately $7,678,000. Chung Wu Investment Group LLC lifted its stake 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 buying an additional 280 shares in the last quarter. UBS Group AG bought a new position in Direxion Daily S&P 500 Bull 2X Shares in the third quarter valued at approximately $3,238,000. Finally, Allworth Financial LP boosted its holdings in shares of 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 buying an additional 100 shares during the period.

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

SPUU stock traded down $5.39 during midday trading on Friday, hitting $211.72. 22,006 shares of the company’s stock were exchanged, compared to its average volume of 30,056. The stock’s fifty day moving average price is $184.97 and its 200-day moving average price is $185.39. The company has a market cap of $239.24 million, a PE ratio of 25.96 and a beta of 2.02. Direxion Daily S&P 500 Bull 2X Shares has a one year low of $136.30 and a one year high of $217.67.

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.