Direxion Daily S&P 500 Bull 2X ETF (NYSEARCA:SPUU) Stock Short Interest Jumps 95.7%

Direxion Daily S&P 500 Bull 2X ETF (NYSEARCA:SPUU) was the recipient of a large increase in short interest during the month of October. As of October 15th, there was short interest totaling 72,030 shares, an increase of 95.7% from the September 30th total of 36,810 shares. Currently, 5.2% of the shares of the company are sold short. Based on an average daily trading volume, of 18,447 shares, the days-to-cover ratio is currently 3.9 days.

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

Institutional investors have recently modified their holdings of the company. CPR Investments Inc. bought a new position in Direxion Daily S&P 500 Bull 2X ETF in the 3rd quarter worth about $3,232,000. Dedeker Financial LLC boosted its position in shares of Direxion Daily S&P 500 Bull 2X ETF by 0.7% during the third quarter. Dedeker Financial LLC now owns 14,526 shares of the company’s stock worth $3,219,000 after buying an additional 95 shares during the period. Ramsey Quantitative Systems bought a new position in Direxion Daily S&P 500 Bull 2X ETF in the 3rd quarter worth approximately $176,000. SBI Securities Co. Ltd. grew its holdings in Direxion Daily S&P 500 Bull 2X ETF by 31.0% in the 3rd quarter. SBI Securities Co. Ltd. now owns 591 shares of the company’s stock worth $131,000 after buying an additional 140 shares in the last quarter. Finally, Client First Investment Management LLC grew its holdings in Direxion Daily S&P 500 Bull 2X ETF by 142.8% in the 3rd quarter. Client First Investment Management LLC now owns 14,202 shares of the company’s stock worth $3,147,000 after buying an additional 8,353 shares in the last quarter.

Direxion Daily S&P 500 Bull 2X ETF Stock Up 0.4%

NYSEARCA SPUU traded up $0.81 during trading hours on Monday, hitting $217.76. The company had a trading volume of 62,983 shares, compared to its average volume of 23,972. Direxion Daily S&P 500 Bull 2X ETF has a fifty-two week low of $154.85 and a fifty-two week high of $232.69. The business has a fifty day simple moving average of $224.58 and a 200-day simple moving average of $205.74. The firm has a market cap of $278.74 million, a P/E ratio of 25.96 and a beta of 2.02.

Direxion Daily S&P 500 Bull 2X ETF Company Profile

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.