Direxion Daily GOOGL Bear 1X Shares (NASDAQ:GGLS) Short Interest Down 57.6% in February

Direxion Daily GOOGL Bear 1X Shares (NASDAQ:GGLS) saw a significant drop in short interest during the month of February. As of February 13th, there was short interest totaling 312,596 shares, a drop of 57.6% from the January 29th total of 737,043 shares. Currently, 22.0% of the shares of the company are sold short. Based on an average daily volume of 16,188,691 shares, the days-to-cover ratio is presently 0.0 days. Based on an average daily volume of 16,188,691 shares, the days-to-cover ratio is presently 0.0 days. Currently, 22.0% of the shares of the company are sold short.

Direxion Daily GOOGL Bear 1X Shares Price Performance

Shares of NASDAQ GGLS traded down $0.11 during trading hours on Friday, hitting $6.80. 12,669,468 shares of the company’s stock were exchanged, compared to its average volume of 11,650,602. The company’s 50-day moving average price is $6.62 and its 200-day moving average price is $7.79. Direxion Daily GOOGL Bear 1X Shares has a 1-year low of $6.09 and a 1-year high of $16.00.

Institutional Investors Weigh In On Direxion Daily GOOGL Bear 1X Shares

Several hedge funds have recently modified their holdings of GGLS. PayPay Securities Corp increased its position in Direxion Daily GOOGL Bear 1X Shares by 289.5% during the fourth quarter. PayPay Securities Corp now owns 11,822 shares of the company’s stock worth $80,000 after acquiring an additional 8,787 shares during the period. Jane Street Group LLC acquired a new stake in Direxion Daily GOOGL Bear 1X Shares in the 2nd quarter worth $147,000. XTX Topco Ltd bought a new position in shares of Direxion Daily GOOGL Bear 1X Shares during the 4th quarter worth about $109,000. Flow Traders U.S. LLC raised its position in shares of Direxion Daily GOOGL Bear 1X Shares by 48.0% during the second quarter. Flow Traders U.S. LLC now owns 17,354 shares of the company’s stock valued at $215,000 after buying an additional 5,627 shares during the last quarter. Finally, Optiver Holding B.V. raised its position in shares of Direxion Daily GOOGL Bear 1X Shares by 137.3% during the third quarter. Optiver Holding B.V. now owns 29,454 shares of the company’s stock valued at $262,000 after buying an additional 17,042 shares during the last quarter.

About Direxion Daily GOOGL Bear 1X Shares

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