Direxion Daily AVGO Bear 1X Shares (NASDAQ:AVS) Sees Significant Growth in Short Interest

Direxion Daily AVGO Bear 1X Shares (NASDAQ:AVS) was the recipient of a significant growth in short interest in May. As of May 15th, there was short interest totaling 133,956 shares, a growth of 556.1% from the April 30th total of 20,417 shares. Based on an average daily volume of 1,666,941 shares, the days-to-cover ratio is currently 0.1 days. Approximately 13.1% of the company’s shares are sold short.

Direxion Daily AVGO Bear 1X Shares Stock Performance

Shares of AVS stock traded down $0.21 during mid-day trading on Friday, reaching $7.09. 5,692,020 shares of the stock traded hands, compared to its average volume of 1,480,045. The stock’s fifty day simple moving average is $8.41 and its two-hundred day simple moving average is $9.15. Direxion Daily AVGO Bear 1X Shares has a 1-year low of $6.93 and a 1-year high of $15.36.

Direxion Daily AVGO Bear 1X Shares Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 24th were paid a $0.0593 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Tuesday, March 24th.

Institutional Trading of Direxion Daily AVGO Bear 1X Shares

Hedge funds have recently modified their holdings of the stock. IMC Chicago LLC acquired a new stake in shares of Direxion Daily AVGO Bear 1X Shares in the 4th quarter worth about $2,394,000. Genesis Financial Group LLC purchased a new stake in Direxion Daily AVGO Bear 1X Shares during the fourth quarter worth about $1,868,000. Advisory Services Network LLC bought a new position in Direxion Daily AVGO Bear 1X Shares during the second quarter valued at $1,019,000. Optiver Holding B.V. grew its holdings in Direxion Daily AVGO Bear 1X Shares by 3,790.3% during the third quarter. Optiver Holding B.V. now owns 35,441 shares of the company’s stock valued at $375,000 after purchasing an additional 34,530 shares during the period. Finally, Hamilton Wealth LLC purchased a new stake in Direxion Daily AVGO Bear 1X Shares during the first quarter valued at about $205,000.

Direxion Daily AVGO Bear 1X Shares Company Profile

The Direxion Daily AVGO Bear 1X Shares (AVS) is an exchange-traded fund that mostly invests in information technology equity. The fund provides inverse (-1x) exposure, less fees and expenses, to the daily price movement for shares of Broadcom Inc stock. AVS was launched on Oct 10, 2024 and is issued by Direxion.