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

Direxion Daily NYSE FANG+ Bull 2X ETF (NYSEARCA:FNGG) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totaling 11,955 shares, an increase of 256.2% from the August 15th total of 3,356 shares. Based on an average daily trading volume, of 6,860 shares, the short-interest ratio is currently 1.7 days. Approximately 2.3% of the company’s shares are short sold.

Direxion Daily NYSE FANG+ Bull 2X ETF Stock Down 1.1%

Shares of NYSEARCA FNGG traded down $2.87 during trading on Monday, hitting $259.32. 127 shares of the company traded hands, compared to its average volume of 8,754. Direxion Daily NYSE FANG+ Bull 2X ETF has a 1 year low of $139.12 and a 1 year high of $276.00. The company has a 50-day moving average price of $248.21 and a 200-day moving average price of $220.31. The firm has a market capitalization of $137.44 million, a P/E ratio of 42.08 and a beta of 2.83.

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

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Wealth Watch Advisors INC acquired a new position in shares of Direxion Daily NYSE FANG+ Bull 2X ETF during the third quarter worth $109,000. Larson Financial Group LLC increased its stake in Direxion Daily NYSE FANG+ Bull 2X ETF by 223.2% during the 3rd 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. Meadowbrook Wealth Management LLC purchased a new stake in Direxion Daily NYSE FANG+ Bull 2X ETF during the 2nd quarter worth $340,000. Finally, Simplex Trading LLC lifted its holdings in Direxion Daily NYSE FANG+ Bull 2X ETF by 228.7% in the 4th 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.

About Direxion Daily NYSE FANG+ Bull 2X ETF

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.