Direxion Daily GOOGL Bear 1X Shares (NASDAQ:GGLS) Sees Significant Drop in Short Interest

Direxion Daily GOOGL Bear 1X Shares (NASDAQ:GGLS) was the target of a significant drop in short interest in the month of May. As of May 15th, there was short interest totaling 113,573 shares, a drop of 83.2% from the April 30th total of 674,508 shares. Approximately 5.8% of the company’s stock are short sold. Based on an average daily volume of 12,833,129 shares, the days-to-cover ratio is currently 0.0 days.

Direxion Daily GOOGL Bear 1X Shares Stock Performance

Shares of NASDAQ GGLS opened at $5.32 on Thursday. The company has a 50-day moving average price of $6.19 and a 200-day moving average price of $6.59. Direxion Daily GOOGL Bear 1X Shares has a 1 year low of $5.07 and a 1 year high of $13.62.

Direxion Daily GOOGL Bear 1X Shares Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 24th were issued a dividend of $0.0526 per share. This represents a $0.21 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Tuesday, March 24th.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. PayPay Securities Corp raised its position in Direxion Daily GOOGL Bear 1X Shares by 289.5% in 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. XTX Topco Ltd bought a new stake in shares of Direxion Daily GOOGL Bear 1X Shares in the fourth quarter valued at approximately $109,000. Jane Street Group LLC purchased a new position in Direxion Daily GOOGL Bear 1X Shares during the second quarter valued at approximately $147,000. Flow Traders U.S. LLC grew its stake in 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 acquiring an additional 5,627 shares in the last quarter. Finally, Optiver Holding B.V. grew its stake in 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 acquiring an additional 17,042 shares in 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.