Direxion Daily AAPL Bull 2X Shares (NASDAQ:AAPU) Sees Large Increase in Short Interest

Key Points

• Short interest jumped 36.4% to 1,218,939 shares as of March 13 (up from 893,357 on Feb 26), representing about 14.3% of shares sold short and a days-to-cover ratio of 0.7.
• Hedge funds increased exposure recently, led by Jane Street Group which raised its stake by 703.1% to 157,807 shares (worth $4.43M), while firms like IMC Chicago, Client First, Tower Research and Group One Trading also built or expanded positions.
• Shares opened at $27.01 with a 1-year range of $15.89–$40.70 and a market cap of $230.13M, and the fund declared a quarterly dividend of $0.1727 per share ($0.69 annualized, ~2.6% yield) payable March 31.

Direxion Daily AAPL Bull 2X Shares (NASDAQ:AAPU - ) was the target of a large increase in short interest during the month of March. As of March 13th, there was short interest totaling 1,218,939 shares, an increase of 36.4% from the February 26th total of 893,357 shares. Approximately 14.3% of the company's shares are sold short. Based on an average daily trading volume, of 1,797,149 shares, the days-to-cover ratio is currently 0.7 days.

Hedge Funds Weigh In On Direxion Daily AAPL Bull 2X Shares

A number of hedge funds have recently modified their holdings of the business. Jane Street Group LLC increased its holdings in Direxion Daily AAPL Bull 2X Shares by 703.1% in the first quarter. Jane Street Group LLC now owns 157,807 shares of the company's stock valued at $4,428,000 after purchasing an additional 138,158 shares during the period. IMC Chicago LLC acquired a new position in Direxion Daily AAPL Bull 2X Shares during the 3rd quarter worth about $2,336,000. Client First Investment Management LLC bought a new stake in shares of Direxion Daily AAPL Bull 2X Shares in the 3rd quarter valued at about $1,990,000. Tower Research Capital LLC TRC bought a new stake in shares of Direxion Daily AAPL Bull 2X Shares in the 2nd quarter valued at about $693,000. Finally, Group One Trading LLC increased its stake in shares of Direxion Daily AAPL Bull 2X Shares by 104.0% in the fourth quarter. Group One Trading LLC now owns 30,566 shares of the company's stock valued at $1,026,000 after buying an additional 15,581 shares during the period.

Direxion Daily AAPL Bull 2X Shares Price Performance

Shares of NASDAQ AAPU opened at $27.01 on Friday. The company has a 50 day simple moving average of $30.16 and a 200 day simple moving average of $32.48. Direxion Daily AAPL Bull 2X Shares has a 1 year low of $15.89 and a 1 year high of $40.70. The firm has a market cap of $230.13 million, a PE ratio of 25.83 and a beta of 1.67.

Direxion Daily AAPL Bull 2X Shares Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 24th will be paid a dividend of $0.1727 per share. The ex-dividend date of this dividend is Tuesday, March 24th. This represents a $0.69 annualized dividend and a dividend yield of 2.6%.

Direxion Daily AAPL Bull 2X Shares Company Profile

The Direxion Daily AAPL Bull 1.5X Shares (AAPU) is an exchange-traded fund that is based on the Apple Inc index. The fund provides 1.5x leveraged exposure, less fees and expenses, to the daily price movement for shares of Apple stock. AAPU was launched on Aug 9, 2022 and is managed by Direxion.

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