Direxion Daily AMZN Bull 2X Shares (NASDAQ:AMZU) Short Interest Up 22.7% in March

Key Points

• Short interest rose 22.7% in March to 2,221,966 shares (about 23.6% of shares shorted), with a days-to-cover of 0.6 based on average daily volume.
• The ETF provides 1.5x leveraged exposure to Amazon and is trading around $24.64 (one-year range $21.28–$46.88) with a market capitalization of about $231.6 million.
• Direxion disclosed a quarterly dividend of $0.1694 per share (annualized $0.68, yield 2.7%), with an ex-dividend/record date of March 24 and payment on March 31.

Direxion Daily AMZN Bull 2X Shares (NASDAQ:AMZU - ) was the recipient of a large growth in short interest in March. As of March 13th, there was short interest totaling 2,221,966 shares, a growth of 22.7% from the February 26th total of 1,810,947 shares. Currently, 23.6% of the shares of the stock are short sold. Based on an average trading volume of 3,832,156 shares, the days-to-cover ratio is presently 0.6 days.

Direxion Daily AMZN Bull 2X Shares Price Performance

AMZU opened at $24.64 on Monday. Direxion Daily AMZN Bull 2X Shares has a one year low of $21.28 and a one year high of $46.88. The company's 50 day simple moving average is $29.98 and its 200-day simple moving average is $34.29. The stock has a market capitalization of $231.62 million, a P/E ratio of 32.75 and a beta of 1.95.

Direxion Daily AMZN Bull 2X Shares Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 24th will be issued a dividend of $0.1694 per share. The ex-dividend date of this dividend is Tuesday, March 24th. This represents a $0.68 annualized dividend and a yield of 2.7%.

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

Several hedge funds and other institutional investors have recently made changes to their positions in the company. FNY Investment Advisers LLC bought a new stake in shares of Direxion Daily AMZN Bull 2X Shares during the fourth quarter worth $25,000. PayPay Securities Corp lifted its stake in shares of Direxion Daily AMZN Bull 2X Shares by 257.5% during the third quarter. PayPay Securities Corp now owns 976 shares of the company's stock valued at $34,000 after acquiring an additional 703 shares during the period. Safe Harbor Fiduciary LLC acquired a new position in shares of Direxion Daily AMZN Bull 2X Shares during the fourth quarter valued at $41,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Direxion Daily AMZN Bull 2X Shares in the fourth quarter valued at about $47,000. Finally, Parallel Advisors LLC boosted its holdings in Direxion Daily AMZN Bull 2X Shares by 507.7% in the third quarter. Parallel Advisors LLC now owns 1,975 shares of the company's stock valued at $69,000 after acquiring an additional 1,650 shares during the last quarter.

Direxion Daily AMZN Bull 2X Shares Company Profile

The Direxion Daily AMZN Bull 1.5X Shares ETF (AMZU) is an exchange-traded fund that is based on the Amazon.com, Inc index. The fund provides 1.5x leveraged exposure, less fees and expenses, to the daily price movement for shares of Amazon stock. AMZU was launched on Sep 7, 2022 and is managed by Direxion.

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