Direxion Daily NYSE FANG+ Bull 2X Shares (NYSEARCA:FNGG) Short Interest Update

Direxion Daily NYSE FANG+ Bull 2X Shares (NYSEARCA:FNGG) saw a significant growth in short interest during the month of June. As of June 30th, there was short interest totaling 5,756 shares, a growth of 93.5% from the June 15th total of 2,974 shares. Currently, 1.1% of the company’s shares are short sold. Based on an average daily volume of 9,596 shares, the days-to-cover ratio is currently 0.6 days.

Direxion Daily NYSE FANG+ Bull 2X Shares Price Performance

NYSEARCA:FNGG traded down $8.62 during mid-day trading on Thursday, reaching $236.00. 4,732 shares of the company’s stock traded hands, compared to its average volume of 10,070. Direxion Daily NYSE FANG+ Bull 2X Shares has a 12-month low of $139.12 and a 12-month high of $276.00. The firm has a market capitalization of $125.08 million, a price-to-earnings ratio of 42.08 and a beta of 2.82. The company has a 50 day moving average price of $234.96 and a 200-day moving average price of $202.33.

Hedge Funds Weigh In On Direxion Daily NYSE FANG+ Bull 2X Shares

Several hedge funds have recently made changes to their positions in FNGG. Meadowbrook Wealth Management LLC purchased a new position in Direxion Daily NYSE FANG+ Bull 2X Shares during the second quarter valued at $340,000. Simplex Trading LLC increased its position in Direxion Daily NYSE FANG+ Bull 2X Shares by 228.7% in the fourth quarter. Simplex Trading LLC now owns 1,926 shares of the company’s stock worth $397,000 after buying an additional 1,340 shares in the last quarter. Wealth Watch Advisors INC purchased a new stake in Direxion Daily NYSE FANG+ Bull 2X Shares in the third quarter worth about $109,000. Larson Financial Group LLC raised its stake in shares of Direxion Daily NYSE FANG+ Bull 2X Shares by 223.2% in the third quarter. Larson Financial Group LLC now owns 640 shares of the company’s stock worth $155,000 after buying an additional 442 shares during the period. Finally, SBI Securities Co. Ltd. raised its stake in shares of Direxion Daily NYSE FANG+ Bull 2X Shares by 1.5% in the fourth quarter. SBI Securities Co. Ltd. now owns 12,024 shares of the company’s stock worth $2,480,000 after buying an additional 177 shares during the period.

About Direxion Daily NYSE FANG+ Bull 2X Shares

The Direxion Daily Select Large Caps & FANGs Bull 2X Shares (FNGG) is an exchange-traded fund that is based on the ICE FANG 20 index. The fund provides 2x the daily price movements of an equal-weighted index consists of FANG stocks and other growth stocks of technology and tech-enabled companies. FNGG was launched on Sep 30, 2021 and is managed by Direxion.