Direxion Daily Magnificent 7 Bear 1X Shares (NYSEARCA:QQQD) Short Interest Update

Direxion Daily Magnificent 7 Bear 1X Shares (NYSEARCA:QQQD) saw a large growth in short interest during the month of August. As of August 14th, there was short interest totaling 73,368 shares, a growth of 324.7% from the July 30th total of 17,276 shares. Based on an average trading volume of 55,060 shares, the days-to-cover ratio is currently 1.3 days. Currently, 2.8% of the shares of the stock are short sold.

Institutional Trading of Direxion Daily Magnificent 7 Bear 1X Shares

Several institutional investors and hedge funds have recently added to or reduced their stakes in QQQD. Virtu Financial LLC acquired a new position in Direxion Daily Magnificent 7 Bear 1X Shares in the fourth quarter worth approximately $454,000. Susquehanna International Group LLP acquired a new stake in shares of Direxion Daily Magnificent 7 Bear 1X Shares during the 3rd quarter valued at $433,000. Finally, Bank of Montreal Can acquired a new stake in shares of Direxion Daily Magnificent 7 Bear 1X Shares during the 4th quarter valued at $54,000.

Direxion Daily Magnificent 7 Bear 1X Shares Stock Performance

Shares of NYSEARCA:QQQD traded down $0.18 during trading hours on Thursday, hitting $12.41. 41,913 shares of the company’s stock traded hands, compared to its average volume of 155,421. Direxion Daily Magnificent 7 Bear 1X Shares has a 52 week low of $12.01 and a 52 week high of $15.52. The company’s fifty day simple moving average is $12.87 and its two-hundred day simple moving average is $13.23.

Direxion Daily Magnificent 7 Bear 1X Shares Company Profile

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.