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

Direxion Daily GOOGL Bear 1X Shares (NASDAQ:GGLS) saw a significant drop in short interest during the month of July. As of July 15th, there was short interest totaling 11,335 shares, a drop of 96.9% from the June 30th total of 361,908 shares. Approximately 4.9% of the company’s shares are sold short. Based on an average daily trading volume, of 1,047,764 shares, the days-to-cover ratio is currently 0.0 days.

Direxion Daily GOOGL Bear 1X Shares Stock Down 0.5%

NASDAQ GGLS traded down $0.33 on Friday, hitting $63.57. 134,410 shares of the stock were exchanged, compared to its average volume of 1,407,942. Direxion Daily GOOGL Bear 1X Shares has a 52-week low of $50.65 and a 52-week high of $116.40. The stock has a fifty day moving average price of $56.73 and a two-hundred day moving average price of $62.27.

Direxion Daily GOOGL Bear 1X Shares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd were paid a dividend of $0.3321 per share. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.1%.

Institutional Trading of Direxion Daily GOOGL Bear 1X Shares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Flow Traders U.S. LLC boosted its position in shares of 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 buying an additional 5,627 shares during the period. PayPay Securities Corp raised its holdings in shares of 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 buying an additional 8,787 shares during the period. Jane Street Group LLC purchased a new stake in shares of Direxion Daily GOOGL Bear 1X Shares in the second quarter worth approximately $147,000. XTX Topco Ltd bought a new stake in shares of Direxion Daily GOOGL Bear 1X Shares during the 4th quarter worth approximately $109,000. Finally, Optiver Holding B.V. lifted its stake in shares of Direxion Daily GOOGL Bear 1X Shares by 90.4% during the 1st quarter. Optiver Holding B.V. now owns 46,940 shares of the company’s stock worth $342,000 after acquiring an additional 22,292 shares during 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.