AMZU Short Interest Skyrockets 68.6% in July Amid Shift in Market Sentiment
The Direxion Daily AMZN Bull 2X Shares ETF (AMZU) saw a significant increase in short interest in July, with the total number of shares sold short rising by 68.6% to 2,952,669.
This represents about 32.6% of the stock's outstanding shares and is based on an average daily trading volume of 3,385,315 shares, resulting in a days-to-cover ratio of 0.9 days.
The ETF provides 1.5x leveraged exposure to Amazon's daily price movement, making it a popular choice for investors looking to profit from the tech giant's stock performance.