Direxion Daily Magnificent 7 Bear 1X ETF (NYSEARCA:QQQD) Short Interest Down 78.0% in August

Direxion Daily Magnificent 7 Bear 1X ETF (NYSEARCA:QQQD) was the target of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totaling 16,106 shares, a decrease of 78.0% from the August 15th total of 73,368 shares. Currently, 0.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 56,946 shares, the short-interest ratio is presently 0.3 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Susquehanna International Group LLP purchased a new stake in shares of Direxion Daily Magnificent 7 Bear 1X ETF in the third quarter valued at approximately $433,000. Bank of Montreal Can purchased a new position in Direxion Daily Magnificent 7 Bear 1X ETF during the fourth quarter worth approximately $54,000. Finally, Virtu Financial LLC purchased a new position in Direxion Daily Magnificent 7 Bear 1X ETF during the fourth quarter worth approximately $454,000.

Direxion Daily Magnificent 7 Bear 1X ETF Stock Performance

QQQD opened at $12.31 on Friday. Direxion Daily Magnificent 7 Bear 1X ETF has a twelve month low of $12.01 and a twelve month high of $15.52. The firm’s 50-day moving average price is $12.65 and its 200 day moving average price is $13.12.

Direxion Daily Magnificent 7 Bear 1X ETF 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.