Direxion Daily AI and Big Data Bull 2X Shares (NYSEARCA:AIBU) Short Interest Down 73.5% in May

Direxion Daily AI and Big Data Bull 2X Shares (NYSEARCA:AIBU) saw a significant drop in short interest in the month of May. As of May 29th, there was short interest totaling 2,515 shares, a drop of 73.5% from the May 14th total of 9,478 shares. Approximately 0.5% of the company’s stock are short sold. Based on an average daily trading volume, of 25,261 shares, the days-to-cover ratio is presently 0.1 days.

Hedge Funds Weigh In On Direxion Daily AI and Big Data Bull 2X Shares

A number of large investors have recently added to or reduced their stakes in AIBU. Susquehanna International Group LLP bought a new position in Direxion Daily AI and Big Data Bull 2X Shares in the third quarter worth about $440,000. Traynor Capital Management Inc. raised its holdings in Direxion Daily AI and Big Data Bull 2X Shares by 93.4% in the fourth quarter. Traynor Capital Management Inc. now owns 14,493 shares of the company’s stock worth $716,000 after purchasing an additional 7,000 shares in the last quarter. Finally, IFP Advisors Inc bought a new position in Direxion Daily AI and Big Data Bull 2X Shares in the fourth quarter worth about $25,000.

Direxion Daily AI and Big Data Bull 2X Shares Stock Up 1.2%

AIBU stock traded up $0.77 during trading on Friday, hitting $62.77. 14,197 shares of the company’s stock traded hands, compared to its average volume of 16,387. The firm has a market capitalization of $31.39 million, a P/E ratio of 35.29 and a beta of 4.09. The business has a fifty day simple moving average of $57.02 and a two-hundred day simple moving average of $49.99. Direxion Daily AI and Big Data Bull 2X Shares has a 1 year low of $32.91 and a 1 year high of $78.96.

About Direxion Daily AI and Big Data Bull 2X Shares

The Direxion Daily AI and Big Data Bull 2X Shares (AIBU) is an exchange-traded fund that is based on the Solactive US AI & Big Data index. The fund tracks 2x the daily price movements of a concentrated index of US companies involved in artificial intelligence (AI) applications and big data. Stocks are weighted based on their relevance to the business fields. AIBU was launched on May 15, 2024 and is issued by Direxion.