Direxion Daily Magnificent 7 Bear 1X Shares (NYSEARCA:QQQD) Sees Large Drop in Short Interest

Direxion Daily Magnificent 7 Bear 1X Shares (NYSEARCA:QQQD) was the recipient of a significant decrease in short interest during the month of July. As of July 15th, there was short interest totaling 16,417 shares, a decrease of 71.4% from the June 30th total of 57,490 shares. Based on an average daily trading volume, of 118,284 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.6% of the shares of the company are short sold.

Institutional Investors Weigh In On Direxion Daily Magnificent 7 Bear 1X Shares

Hedge funds have recently bought and sold shares of the stock. Bank of Montreal Can purchased a new position in shares of Direxion Daily Magnificent 7 Bear 1X Shares during the 4th quarter valued at approximately $54,000. Susquehanna International Group LLP acquired a new position in shares of Direxion Daily Magnificent 7 Bear 1X Shares in the 3rd quarter valued at $433,000. Finally, Virtu Financial LLC acquired a new position in shares of Direxion Daily Magnificent 7 Bear 1X Shares in the 4th quarter valued at $454,000.

Direxion Daily Magnificent 7 Bear 1X Shares Stock Up 0.1%

Direxion Daily Magnificent 7 Bear 1X Shares stock traded up $0.01 during midday trading on Friday, hitting $13.48. 145,058 shares of the company were exchanged, compared to its average volume of 171,150. The business has a fifty day simple moving average of $12.83 and a two-hundred day simple moving average of $13.30. Direxion Daily Magnificent 7 Bear 1X Shares has a fifty-two week low of $12.01 and a fifty-two week high of $15.52.

About Direxion Daily Magnificent 7 Bear 1X Shares

The Direxion Daily Concentrated Qs Bear 1X Shares (QQQD) is an exchange-traded fund that is based on the Indxx Front of the Q index. The fund tracks -1x the daily price movements of an equal-weighted index of the seven largest NASDAQ-listed companies. QQQD was launched on Mar 7, 2024 and is issued by Direxion.