Short Interest in Direxion Daily AAPL Bull 2X Shares (NASDAQ:AAPU) Grows By 24.9%

Direxion Daily AAPL Bull 2X Shares (NASDAQ:AAPU) was the target of a significant growth in short interest in March. As of March 15th, there was short interest totalling 620,300 shares, a growth of 24.9% from the February 28th total of 496,700 shares. Based on an average daily volume of 1,218,000 shares, the short-interest ratio is presently 0.5 days. Approximately 13.1% of the shares of the company are sold short.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. PayPay Securities Corp acquired a new stake in Direxion Daily AAPL Bull 2X Shares in the fourth quarter valued at $31,000. SBI Securities Co. Ltd. acquired a new stake in Direxion Daily AAPL Bull 2X Shares in the 4th quarter valued at about $125,000. Client First Investment Management LLC purchased a new position in Direxion Daily AAPL Bull 2X Shares during the 4th quarter valued at about $363,000. JPMorgan Chase & Co. raised its position in Direxion Daily AAPL Bull 2X Shares by 70.3% during the fourth quarter. JPMorgan Chase & Co. now owns 10,091 shares of the company’s stock worth $380,000 after acquiring an additional 4,166 shares during the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of Direxion Daily AAPL Bull 2X Shares in the fourth quarter valued at about $740,000.

Direxion Daily AAPL Bull 2X Shares Price Performance

NASDAQ:AAPU opened at $28.34 on Wednesday. Direxion Daily AAPL Bull 2X Shares has a 1-year low of $20.48 and a 1-year high of $43.10. The firm has a market cap of $66.03 million, a price-to-earnings ratio of 32.24 and a beta of 1.87. The firm’s fifty day moving average price is $31.10 and its 200 day moving average price is $34.70.

Direxion Daily AAPL Bull 2X Shares Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 25th were issued a $0.243 dividend. This represents a $0.97 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date of this dividend was Tuesday, March 25th.

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.