Direxion Daily AMZN Bear 1X ETF (NASDAQ:AMZD) Share Price Breaks Below Fifty Day Moving Average – Here’s Why

Direxion Daily AMZN Bear 1X ETF (NASDAQ:AMZD)’s share price crossed below its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $8.57 and traded as low as $8.51. Direxion Daily AMZN Bear 1X ETF shares last traded at $8.53, with a volume of 14,090,977 shares.

Direxion Daily AMZN Bear 1X ETF Price Performance

The stock has a fifty day moving average price of $8.59 and a two-hundred day moving average price of $9.36.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. acquired a new position in shares of Direxion Daily AMZN Bear 1X ETF during the 1st quarter valued at about $35,000. Hamilton Wealth LLC purchased a new position in shares of Direxion Daily AMZN Bear 1X ETF during the 1st quarter worth about $330,000. Finally, IMC Chicago LLC purchased a new position in shares of Direxion Daily AMZN Bear 1X ETF during the 1st quarter worth about $1,479,000.

Direxion Daily AMZN Bear 1X ETF Company Profile

The Direxion Daily AMZN Bear 1X Shares ETF (AMZD) is an exchange-traded fund that is based on the Amazon.com, Inc index. The fund provides inverse (-1x) exposure, less fees and expenses, to the daily price movement for shares of Amazon stock. AMZD was launched on Sep 7, 2022 and is managed by Direxion.