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

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

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

Several hedge funds have recently bought and sold shares of QQQD. Bank of Montreal Can bought a new position in shares of Direxion Daily Magnificent 7 Bear 1X Shares during the fourth quarter valued at approximately $54,000. Susquehanna International Group LLP bought a new position in Direxion Daily Magnificent 7 Bear 1X Shares during the 3rd quarter valued at approximately $433,000. Finally, Virtu Financial LLC purchased a new position in Direxion Daily Magnificent 7 Bear 1X Shares during the fourth quarter valued at $454,000.

Direxion Daily Magnificent 7 Bear 1X Shares Stock Performance

Direxion Daily Magnificent 7 Bear 1X Shares stock traded down $0.07 on Tuesday, hitting $13.42. 83,842 shares of the stock traded hands, compared to its average volume of 169,950. Direxion Daily Magnificent 7 Bear 1X Shares has a 1 year low of $12.01 and a 1 year high of $15.52. The business’s fifty day simple moving average is $12.86 and its 200 day simple moving average is $13.31.

About Direxion Daily Magnificent 7 Bear 1X Shares

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.