Increase in Short Interest for Direxion Daily AAPL Bull 2X Shares

The Direxion Daily AAPL Bull 2X Shares (NASDAQ:AAPU) experienced a notable rise in short interest during the month of October. As of October 15th, the total short interest was reported at 262,800 shares, marking a substantial increase of 38.2% from the short interest figure of 190,100 shares noted on September 30th. With an average trading volume of 699,300 shares, the current days-to-cover ratio stands at 0.4 days.

Institutional Investors Take Interest

Recently, a hedge fund made a new investment in Direxion Daily AAPL Bull 2X Shares. According to the latest Form 13F filing with the Securities and Exchange Commission, World Equity Group Inc. purchased 7,390 shares valued at around $241,000 in the second quarter. At the conclusion of the last quarter, World Equity Group Inc. held approximately 0.17% of Direxion Daily AAPL Bull 2X Shares.

Stock Performance Overview

On Friday, shares of Direxion Daily AAPL Bull 2X Shares opened at $37.13. The stock has shown a significant range over the past year, with a low of $20.48 and a high of $40.93. Currently, the company boasts a market capitalization of $102.11 million and maintains a price-to-earnings ratio of 23.89. The beta value for this share is recorded at -1.95, while the 50-day moving average price is $36.32 and the 200-day moving average price is $32.41.

Dividend Increase Announced

In addition to these developments, Direxion Daily AAPL Bull 2X Shares announced an increase in its quarterly dividend. This dividend was distributed on October 1st to investors who were on record as of September 24th, with each receiving $0.2818. This translates to an annualized dividend of $1.13, which provides a yield of 3.04%. This new amount represents an increase from the previous quarterly dividend of $0.20. The ex-dividend date for this payment was September 24th.

Additional Information on Direxion Daily AAPL Bull 2X Shares

Direxion Daily AAPL Bull 2X Shares (AAPU) is an exchange-traded fund that seeks to provide a 1.5x leveraged exposure, after deducting fees and expenses, to the daily performance of Apple Inc. shares. The fund was launched on August 9, 2022, and is managed by Direxion.

Investment Considerations

Investors might consider whether to invest in Direxion Daily AAPL Bull 2X Shares. Current ratings reflect a hold with analysts suggesting that there may be other more favorable investment options available at this time. MarketBeat has identified five stocks that analysts recommend for potential purchase over Direxion Daily AAPL Bull 2X Shares. Therefore, prospective investors should assess these suggestions and perform additional research before making any investment decisions.

Shares, Investment, Dividend