Short Interest in Direxion Daily Magnificent 7 Bear 1X Shares (NYSEARCA:QQQD) Increases By 176.0%

Direxion Daily Magnificent 7 Bear 1X Shares (NYSEARCA:QQQD) saw a large growth in short interest during the month of February. As of February 13th, there was short interest totaling 103,626 shares, a growth of 176.0% from the January 29th total of 37,550 shares. Currently, 7.1% of the shares of the company are sold short. Based on an average daily trading volume, of 295,058 shares, the days-to-cover ratio is currently 0.4 days. Based on an average daily trading volume, of 295,058 shares, the days-to-cover ratio is currently 0.4 days. Currently, 7.1% of the shares of the company are sold short.

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

Hedge funds have recently modified their holdings of the stock. One Plus One Wealth Management LLC purchased a new position in Direxion Daily Magnificent 7 Bear 1X Shares in the third quarter valued at approximately $4,213,000. Wakefield Asset Management LLLP purchased a new position in shares of Direxion Daily Magnificent 7 Bear 1X Shares during the 3rd quarter valued at $3,130,000. Virtu Financial LLC purchased a new position in shares of Direxion Daily Magnificent 7 Bear 1X Shares during the 4th quarter valued at $454,000. Susquehanna International Group LLP bought a new position in shares of Direxion Daily Magnificent 7 Bear 1X Shares during the 3rd quarter worth $433,000. Finally, Bank of Montreal Can purchased a new stake in Direxion Daily Magnificent 7 Bear 1X Shares in the 4th quarter worth about $54,000.

Direxion Daily Magnificent 7 Bear 1X Shares Stock Performance

NYSEARCA QQQD traded up $0.19 during trading hours on Friday, reaching $14.00. 125,676 shares of the company were exchanged, compared to its average volume of 178,351. Direxion Daily Magnificent 7 Bear 1X Shares has a 1 year low of $12.66 and a 1 year high of $23.18. The business’s 50 day simple moving average is $13.30 and its 200-day simple moving average is $13.52.

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.