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 growth in short interest in September. As of September 30th, there was short interest totaling 18,311 shares, a growth of 96.5% from the September 15th total of 9,320 shares. Based on an average daily volume of 29,340 shares, the short-interest ratio is currently 0.6 days. Approximately 1.5% of the shares of the stock are sold short.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Direxion Daily Magnificent 7 Bull 2X ETF stock. CPR Investments Inc. bought a new position in shares of Direxion Daily Magnificent 7 Bull 2X ETF (NYSEARCA:QQQU) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,937 shares of the company’s stock, valued at approximately $294,000. CPR Investments Inc. owned about 0.38% of Direxion Daily Magnificent 7 Bull 2X ETF at the end of the most recent quarter.

Direxion Daily Magnificent 7 Bull 2X ETF Stock Performance

QQQU stock traded down $2.57 during midday trading on Wednesday, hitting $63.96. 37,951 shares of the stock were exchanged, compared to its average volume of 64,139. The stock’s 50-day moving average price is $59.62 and its 200-day moving average price is $55.77. The stock has a market cap of $78.67 million, a price-to-earnings ratio of 34.65 and a beta of 3.02. Direxion Daily Magnificent 7 Bull 2X ETF has a fifty-two week low of $38.42 and a fifty-two week high of $67.30.

Direxion Daily Magnificent 7 Bull 2X ETF 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.