Direxion Daily NFLX Bear 1X ETF (NASDAQ:NFXS) Stock Falls 4.8% – Here’s Why

Direxion Daily NFLX Bear 1X ETF (NASDAQ:NFXS)’s stock price traded down 4.8% during mid-day trading on Wednesday. The company traded as low as $22.46 and last traded at $22.53. 12,909 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 43,921 shares. The stock had previously closed at $23.67.

Direxion Daily NFLX Bear 1X ETF Trading Up 3.4%

The company has a 50 day moving average of $21.38 and a 200 day moving average of $19.44.

Hedge Funds Weigh In On Direxion Daily NFLX Bear 1X ETF

A hedge fund recently raised its stake in Direxion Daily NFLX Bear 1X ETF stock. IMC Chicago LLC increased its position in shares of Direxion Daily NFLX Bear 1X ETF (NASDAQ:NFXS) by 203.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 61,642 shares of the company’s stock after buying an additional 41,342 shares during the period. IMC Chicago LLC owned about 20.55% of Direxion Daily NFLX Bear 1X ETF worth $1,010,000 at the end of the most recent reporting period.

Direxion Daily NFLX Bear 1X ETF Company Profile

The Direxion Daily NFLX Bear 1X Shares (NFXS) is an exchange-traded fund that mostly invests in communication services equity. The fund provides inverse (-1x) exposure, less fees and expenses, to the daily price movement for shares of Netflix stock. NFXS was launched on Oct 3, 2024 and is issued by Direxion.