Direxion Daily Magnificent 7 Bear 1X Shares (NYSEARCA:QQQD) Short Interest Down 82.2% in May

Direxion Daily Magnificent 7 Bear 1X Shares (NYSEARCA:QQQD) was the recipient of a significant decline in short interest in the month of May. As of May 29th, there was short interest totaling 8,418 shares, a decline of 82.2% from the May 14th total of 47,261 shares. Approximately 0.5% of the shares of the company are short sold. Based on an average daily trading volume, of 142,405 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Trading of Direxion Daily Magnificent 7 Bear 1X Shares

Several hedge funds have recently made changes to their positions in QQQD. Wakefield Asset Management LLLP bought a new stake in shares of Direxion Daily Magnificent 7 Bear 1X Shares in the third quarter valued at $3,130,000. Virtu Financial LLC bought a new stake in shares of Direxion Daily Magnificent 7 Bear 1X Shares in the fourth quarter valued at $454,000. Susquehanna International Group LLP bought a new stake in shares of Direxion Daily Magnificent 7 Bear 1X Shares in the third quarter valued at $433,000. Finally, Bank of Montreal Can bought a new stake in shares of Direxion Daily Magnificent 7 Bear 1X Shares in the fourth quarter valued at $54,000.

Direxion Daily Magnificent 7 Bear 1X Shares Stock Performance

Shares of QQQD traded up $0.30 during mid-day trading on Wednesday, hitting $13.33. The stock had a trading volume of 125,505 shares, compared to its average volume of 182,947. The business has a fifty day moving average price of $13.00 and a 200-day moving average price of $13.32. Direxion Daily Magnificent 7 Bear 1X Shares has a 52 week low of $12.01 and a 52 week high of $16.67.

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.