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

Direxion Daily AMZN Bull 2X Shares (NASDAQ:AMZU - Get Free Report) was the target of a significant growth in short interest in October. As of October 31st, there was short interest totalling 695,400 shares, a growth of 33.9% from the October 15th total of 519,400 shares. Based on an average daily volume of 670,400 shares, the days-to-cover ratio is presently 1.0 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Hollencrest Capital Management acquired a new stake in Direxion Daily AMZN Bull 2X Shares in the second quarter worth about $37,000. Client First Investment Management LLC acquired a new position in shares of Direxion Daily AMZN Bull 2X Shares during the 2nd quarter worth about $297,000. Regal Investment Advisors LLC acquired a new position in shares of Direxion Daily AMZN Bull 2X Shares during the 2nd quarter worth about $273,000. Traynor Capital Management Inc. grew its position in shares of Direxion Daily AMZN Bull 2X Shares by 56.4% during the 3rd quarter. Traynor Capital Management Inc. now owns 21,500 shares of the company's stock worth $697,000 after buying an additional 7,750 shares during the period. Finally, Flow Traders U.S. LLC acquired a new position in shares of Direxion Daily AMZN Bull 2X Shares during the 3rd quarter worth about $446,000.

Direxion Daily AMZN Bull 2X Shares Price Performance

Shares of Direxion Daily AMZN Bull 2X Shares stock traded down $1.05 during midday trading on Thursday, hitting $40.78. The company had a trading volume of 640,163 shares, compared to its average volume of 558,139. The business's 50 day simple moving average is $33.63 and its two-hundred day simple moving average is $33.51. The stock has a market cap of $201.05 million, a PE ratio of 120.98 and a beta of -2.52. Direxion Daily AMZN Bull 2X Shares has a 1-year low of $22.11 and a 1-year high of $42.50.

Direxion Daily AMZN Bull 2X Shares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 24th were issued a dividend of $0.3042 per share. The ex-dividend date was Tuesday, September 24th. This is a boost from Direxion Daily AMZN Bull 2X Shares's previous quarterly dividend of $0.25. This represents a $1.22 dividend on an annualized basis and a dividend yield of 2.98%.

About Direxion Daily AMZN Bull 2X Shares

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.