Direxion Daily Magnificent 7 Bear 1X Shares (NYSEARCA:QQQD) Short Interest Up 664.8% in June

Direxion Daily Magnificent 7 Bear 1X Shares (NYSEARCA:QQQD) saw a significant increase in short interest in June. As of June 15th, there was short interest totaling 64,382 shares, an increase of 664.8% from the May 31st total of 8,418 shares. Currently, 3.6% of the company’s stock are short sold. Based on an average daily volume of 189,809 shares, the short-interest ratio is presently 0.3 days.

Hedge Funds Weigh In On Direxion Daily Magnificent 7 Bear 1X Shares

Several hedge funds have recently made changes to their positions in QQQD. Wakefield Asset Management LLLP bought a new stake in shares of Direxion Daily Magnificent 7 Bear 1X Shares in the third quarter worth $3,130,000. Virtu Financial LLC acquired a new stake in Direxion Daily Magnificent 7 Bear 1X Shares in the 4th quarter valued at $454,000. Susquehanna International Group LLP bought a new stake in Direxion Daily Magnificent 7 Bear 1X Shares during the 3rd quarter worth about $433,000. Finally, Bank of Montreal Can bought a new position in shares of Direxion Daily Magnificent 7 Bear 1X Shares in the 4th quarter valued at about $54,000.

Direxion Daily Magnificent 7 Bear 1X Shares Trading Down 0.9%

NYSEARCA:QQQD opened at $13.79 on Friday. Direxion Daily Magnificent 7 Bear 1X Shares has a 52-week low of $12.01 and a 52-week high of $16.00. The stock has a 50-day simple moving average of $12.74 and a 200 day simple moving average of $13.32.

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.