Direxion Daily Magnificent 7 Bear 1X Shares (NYSEARCA:QQQD – Get Free Report) was the target of a significant decline in short interest in 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. Based on an average daily trading volume, of 142,405 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.5% of the shares of the stock are sold short.
Direxion Daily Magnificent 7 Bear 1X Shares Price Performance
Direxion Daily Magnificent 7 Bear 1X Shares stock traded up $0.30 during midday trading on Wednesday, hitting $13.33. 125,505 shares of the company’s stock were exchanged, compared to its average volume of 182,947. Direxion Daily Magnificent 7 Bear 1X Shares has a 52-week low of $12.01 and a 52-week high of $16.67. The stock has a 50-day moving average price of $13.00 and a two-hundred day moving average price of $13.32.
Hedge Funds Weigh In On Direxion Daily Magnificent 7 Bear 1X Shares
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wakefield Asset Management LLLP purchased a new position in Direxion Daily Magnificent 7 Bear 1X Shares during the third quarter worth about $3,130,000. Virtu Financial LLC purchased a new position in Direxion Daily Magnificent 7 Bear 1X Shares during the fourth quarter worth about $454,000. Susquehanna International Group LLP purchased a new position in Direxion Daily Magnificent 7 Bear 1X Shares during the third quarter worth about $433,000. Finally, Bank of Montreal Can purchased a new position in shares of Direxion Daily Magnificent 7 Bear 1X Shares in the 4th quarter worth about $54,000.
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.
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