Short Interest in Direxion Daily Magnificent 7 Bull 2X Shares (NYSEARCA:QQQU) Drops By 59.2%

Direxion Daily Magnificent 7 Bull 2X Shares (NYSEARCA:QQQU) was the recipient of a large drop in short interest in the month of December. As of December 31st, there was short interest totaling 14,525 shares, a drop of 59.2% from the December 15th total of 35,641 shares. Approximately 0.7% of the shares of the stock are sold short. Based on an average daily volume of 62,954 shares, the short-interest ratio is currently 0.2 days. Based on an average daily volume of 62,954 shares, the short-interest ratio is currently 0.2 days. Approximately 0.7% of the shares of the stock are sold short.

Institutional Investors Weigh In On Direxion Daily Magnificent 7 Bull 2X Shares

Several institutional investors and hedge funds have recently modified their holdings of the stock. Bank of America Corp DE bought a new position in shares of Direxion Daily Magnificent 7 Bull 2X Shares during the fourth quarter worth $55,000. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of Direxion Daily Magnificent 7 Bull 2X Shares by 32.3% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,829 shares of the company’s stock valued at $166,000 after purchasing an additional 934 shares in the last quarter. SBI Securities Co. Ltd. increased its holdings in shares of Direxion Daily Magnificent 7 Bull 2X Shares by 262.5% in the second quarter. SBI Securities Co. Ltd. now owns 3,273 shares of the company’s stock worth $142,000 after purchasing an additional 2,370 shares during the last quarter. Financial & Tax Architects LLC purchased a new stake in shares of Direxion Daily Magnificent 7 Bull 2X Shares in the second quarter worth about $207,000. Finally, Southland Equity Partners LLC bought a new position in Direxion Daily Magnificent 7 Bull 2X Shares during the third quarter valued at approximately $592,000.

Direxion Daily Magnificent 7 Bull 2X Shares Stock Down 3.4%

QQQU stock traded down $1.92 during trading on Wednesday, reaching $54.33. The company’s stock had a trading volume of 191,313 shares, compared to its average volume of 75,157. The company’s fifty day moving average is $58.17 and its 200-day moving average is $54.79. The company has a market capitalization of $108.66 million, a P/E ratio of 34.65 and a beta of 2.99. Direxion Daily Magnificent 7 Bull 2X Shares has a 1 year low of $22.55 and a 1 year high of $66.97.

Direxion Daily Magnificent 7 Bull 2X Shares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 17th. Investors of record on Wednesday, December 10th were issued a $5.3084 dividend. The ex-dividend date of this dividend was Wednesday, December 10th. This represents a $21.23 dividend on an annualized basis and a yield of 39.1%.

Direxion Daily Magnificent 7 Bull 2X Shares Company Profile

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.