Direxion Daily Magnificent 7 Bull 2X ETF (NYSEARCA:QQQU) Shares Shorted: Short Interest Up 96.5% in September

Direxion Daily Magnificent 7 Bull 2X ETF (NYSEARCA:QQQU) was the recipient of a large increase in short interest in September. As of September 30th, there was short interest totaling 18,311 shares, an increase of 96.5% from the September 15th total of 9,320 shares. Based on an average daily trading volume, of 29,340 shares, the days-to-cover ratio is currently 0.6 days. Currently, 1.5% of the shares of the stock are short sold.

Institutional Trading of Direxion Daily Magnificent 7 Bull 2X ETF

A hedge fund recently bought a new stake in Direxion Daily Magnificent 7 Bull 2X ETF stock. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Direxion Daily Magnificent 7 Bull 2X ETF (NYSEARCA:QQQU) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 441 shares of the company’s stock, valued at approximately $27,000.

Direxion Daily Magnificent 7 Bull 2X ETF Price Performance

NYSEARCA:QQQU traded down $2.57 during trading hours on Wednesday, reaching $63.96. 37,951 shares of the company traded hands, compared to its average volume of 64,139. The firm’s 50-day moving average is $59.62 and its 200-day moving average is $55.77. The stock has a market cap of $78.67 million, a P/E ratio of 34.65 and a beta of 3.02. Direxion Daily Magnificent 7 Bull 2X ETF has a 1-year low of $38.42 and a 1-year high of $67.30.

About Direxion Daily Magnificent 7 Bull 2X ETF

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.