Direxion Daily Magnificent 7 Bear 1X Shares (NYSEARCA:QQQD) Sees Large Decline in Short Interest

Direxion Daily Magnificent 7 Bear 1X Shares (NYSEARCA:QQQD) was the target of a significant decrease in short interest in January. As of January 30th, there was short interest totaling 37,550 shares, a decrease of 52.0% from the January 15th total of 78,210 shares. Currently, 2.6% of the company’s stock are sold short. Based on an average daily volume of 140,697 shares, the short-interest ratio is currently 0.3 days. Based on an average daily volume of 140,697 shares, the short-interest ratio is currently 0.3 days. Currently, 2.6% of the company’s stock are sold short.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Bank of Montreal Can purchased a new position in Direxion Daily Magnificent 7 Bear 1X Shares in the 4th quarter valued at approximately $54,000. Susquehanna International Group LLP purchased a new position in shares of Direxion Daily Magnificent 7 Bear 1X Shares during the third quarter worth about $433,000. Wakefield Asset Management LLLP purchased a new stake in shares of Direxion Daily Magnificent 7 Bear 1X Shares during the third quarter worth approximately $3,130,000. Finally, One Plus One Wealth Management LLC purchased a new stake in shares of Direxion Daily Magnificent 7 Bear 1X Shares in the third quarter valued at about $4,213,000.

Direxion Daily Magnificent 7 Bear 1X Shares Trading Up 1.2%

Shares of Direxion Daily Magnificent 7 Bear 1X Shares stock traded up $0.16 on Friday, reaching $14.07. 320,417 shares of the stock were exchanged, compared to its average volume of 180,592. Direxion Daily Magnificent 7 Bear 1X Shares has a twelve month low of $12.66 and a twelve month high of $23.18. The business has a 50 day moving average price of $13.15 and a two-hundred day moving average price of $13.58.

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.