Direxion Daily Magnificent 7 Bull 2X Shares (NYSEARCA:QQQU) Stock Price Up 2.6% – Here’s What Happened

Direxion Daily Magnificent 7 Bull 2X Shares (NYSEARCA:QQQU)’s share price rose 2.6% on Thursday . The company traded as high as $55.11 and last traded at $55.06. Approximately 33,269 shares traded hands during trading, a decline of 59% from the average session volume of 80,687 shares. The stock had previously closed at $53.65.

Direxion Daily Magnificent 7 Bull 2X Shares Stock Up 2.6%

The stock has a market capitalization of $71.58 million, a PE ratio of 34.65 and a beta of 3.09. The stock has a fifty day moving average of $56.21 and a 200-day moving average of $52.85.

Hedge Funds Weigh In On Direxion Daily Magnificent 7 Bull 2X Shares

Several hedge funds and other institutional investors have recently made changes to their positions in QQQU. Bank of America Corp DE acquired a new position in shares of Direxion Daily Magnificent 7 Bull 2X Shares during the fourth quarter worth about $55,000. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of Direxion Daily Magnificent 7 Bull 2X Shares by 140.8% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,062 shares of the company’s stock worth $60,000 after buying an additional 621 shares during the period. CPR Investments Inc. acquired a new stake in Direxion Daily Magnificent 7 Bull 2X Shares in the first quarter valued at approximately $294,000. HRT Financial LP acquired a new stake in Direxion Daily Magnificent 7 Bull 2X Shares in the fourth quarter valued at approximately $362,000. Finally, Susquehanna International Group LLP purchased a new position in Direxion Daily Magnificent 7 Bull 2X Shares in the third quarter worth approximately $978,000.

About Direxion Daily Magnificent 7 Bull 2X Shares

The Direxion Daily Concentrated Qs Bull 2X Shares (QQQU) is an exchange-traded fund that is based on the Indxx Front of the Q index. The fund tracks 2x the daily price movements of an equal-weighted index of the seven largest NASDAQ-listed companies. QQQU was launched on Mar 7, 2024 and is issued by Direxion.