Direxion Daily AAPL Bull 2X Shares (NASDAQ:AAPU) Short Interest Update

Key Points

• The short interest in Direxion Daily AAPL Bull 2X Shares (NASDAQ:AAPU) surged by 80.4% in July, reaching a total of 937,200 shares as of July 31st.
• Hedge funds have significantly increased their investment in the fund, with Jane Street Group LLC boosting its holdings by 703.1% in the first quarter.
• The stock is currently trading at $27.45, with a fifty-two week range between $15.89 and $43.10.

Direxion Daily AAPL Bull 2X Shares (NASDAQ:AAPU - Get Free Report) was the target of a large increase in short interest during the month of July. As of July 31st, there was short interest totaling 937,200 shares, anincreaseof80.4% from the July 15th total of 519,600 shares. Based on an average daily volume of 4,528,000 shares, the days-to-cover ratio is presently 0.2 days. Approximately7.6% of the shares of the stock are short sold. Approximately7.6% of the shares of the stock are short sold. Based on an average daily volume of 4,528,000 shares, the days-to-cover ratio is presently 0.2 days.

Direxion Daily AAPL Bull 2X Shares Stock Down 1.3%

NASDAQ:AAPU traded down $0.3350 during mid-day trading on Thursday, reaching $25.7550. 1,018,599 shares of the company were exchanged, compared to its average volume of 2,871,650. Direxion Daily AAPL Bull 2X Shares has a 12 month low of $15.89 and a 12 month high of $43.10. The company has a fifty day moving average of $23.19 and a 200 day moving average of $24.94. The stock has a market cap of $316.01 million, a PE ratio of 25.83 and a beta of -1.95.

Direxion Daily AAPL Bull 2X Shares Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 24th were issued a dividend of $0.0843 per share. The ex-dividend date of this dividend was Tuesday, June 24th. This represents a $0.34 dividend on an annualized basis and a yield of 1.3%.

Institutional Investors Weigh In On Direxion Daily AAPL Bull 2X Shares

A number of hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC bought a new stake in Direxion Daily AAPL Bull 2X Shares during the 2nd quarter worth about $693,000. Group One Trading LLC acquired a new position in Direxion Daily AAPL Bull 2X Shares during the 2nd quarter valued at about $189,000. Raymond James Financial Inc. acquired a new position in Direxion Daily AAPL Bull 2X Shares during the 2nd quarter valued at about $50,000. Vestor Capital LLC acquired a new position in Direxion Daily AAPL Bull 2X Shares during the 2nd quarter valued at about $501,000. Finally, SBI Securities Co. Ltd. lifted its position in Direxion Daily AAPL Bull 2X Shares by 132.1% during the 2nd quarter. SBI Securities Co. Ltd. now owns 9,057 shares of the company's stock valued at $199,000 after purchasing an additional 5,154 shares during the period.

About Direxion Daily AAPL Bull 2X Shares

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.