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

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

Direxion Daily AAPL Bull 2X Shares Stock Performance

Shares of AAPU stock opened at $27.01 on Friday. Direxion Daily AAPL Bull 2X Shares has a fifty-two week low of $15.89 and a fifty-two week high of $40.70. The stock has a 50 day simple moving average of $30.16 and a two-hundred day simple moving average of $32.48. The company has a market cap of $230.13 million, a P/E ratio of 25.83 and a beta of 1.67.

Direxion Daily AAPL Bull 2X Shares Cuts Dividend

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Raymond James Financial Inc. acquired a new stake in Direxion Daily AAPL Bull 2X Shares in the second quarter worth $50,000. Spire Wealth Management acquired a new position in shares of Direxion Daily AAPL Bull 2X Shares during the third quarter valued at about $71,000. Safe Harbor Fiduciary LLC acquired a new position in shares of Direxion Daily AAPL Bull 2X Shares during the fourth quarter valued at about $141,000. Parallel Advisors LLC boosted its position in shares of Direxion Daily AAPL Bull 2X Shares by 107.3% during the 3rd quarter. Parallel Advisors LLC now owns 5,080 shares of the company’s stock worth $164,000 after purchasing an additional 2,630 shares in the last quarter. Finally, Group One Trading LLC acquired a new stake in shares of Direxion Daily AAPL Bull 2X Shares in the 2nd quarter valued at about $189,000.

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.