Direxion Daily Magnificent 7 Bear 1X Shares (NYSEARCA:QQQD) Sees Large Drop in Short Interest

Direxion Daily Magnificent 7 Bear 1X Shares (NYSEARCA:QQQD) saw a significant decline in short interest in July. As of July 15th, there was short interest totaling 16,417 shares, a decline of 71.4% from the June 30th total of 57,490 shares. Based on an average daily trading volume, of 118,284 shares, the short-interest ratio is currently 0.1 days. Currently, 0.6% of the shares of the company are short sold.

Hedge Funds Weigh In On Direxion Daily Magnificent 7 Bear 1X Shares

Institutional investors and hedge funds have recently modified their holdings of the business. Bank of Montreal Can acquired a new position in Direxion Daily Magnificent 7 Bear 1X Shares in the 4th quarter worth about $54,000. Susquehanna International Group LLP acquired a new stake in Direxion Daily Magnificent 7 Bear 1X Shares in the third quarter valued at approximately $433,000. Finally, Virtu Financial LLC purchased a new stake in shares of Direxion Daily Magnificent 7 Bear 1X Shares in the fourth quarter valued at approximately $454,000.

Direxion Daily Magnificent 7 Bear 1X Shares Trading Up 0.1%

Shares of Direxion Daily Magnificent 7 Bear 1X Shares stock traded up $0.01 during trading hours on Friday, reaching $13.48. The stock had a trading volume of 145,058 shares, compared to its average volume of 171,150. The stock’s 50 day moving average is $12.83 and its 200 day moving average is $13.30. Direxion Daily Magnificent 7 Bear 1X Shares has a twelve month low of $12.01 and a twelve month high of $15.52.

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.