Direxion Daily AMZN Bear 1X Shares (NASDAQ:AMZD) Shares Up 4.6% After Dividend Announcement

Direxion Daily AMZN Bear 1X Shares (NASDAQ:AMZD)’s share price rose 4.6% during trading on Monday after the company announced a dividend. The stock traded as high as $9.77 and last traded at $9.74. 16,112,594 shares were traded during trading, an increase of 45% from the average session volume of 11,123,612 shares. The stock had previously closed at $9.31.

The newly announced dividend which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd will be given a dividend of $0.0623 per share. The ex-dividend date of this dividend is Tuesday, June 23rd. This represents a $0.25 annualized dividend and a dividend yield of 2.6%.

Direxion Daily AMZN Bear 1X Shares Stock Performance

The company’s 50-day moving average price is $8.91 and its 200-day moving average price is $9.91.

Hedge Funds Weigh In On Direxion Daily AMZN Bear 1X Shares

A number of large investors have recently added to or reduced their stakes in the company. PayPay Securities Corp raised its stake in shares of Direxion Daily AMZN Bear 1X Shares by 69.1% in the 4th quarter. PayPay Securities Corp now owns 6,408 shares of the company’s stock valued at $64,000 after purchasing an additional 2,618 shares during the period. Geneos Wealth Management Inc. acquired a new position in shares of Direxion Daily AMZN Bear 1X Shares during the first quarter worth about $35,000. Flow Traders U.S. LLC grew its holdings in shares of Direxion Daily AMZN Bear 1X Shares by 30.1% during the third quarter. Flow Traders U.S. LLC now owns 14,143 shares of the company’s stock worth $152,000 after buying an additional 3,272 shares in the last quarter. Tower Research Capital LLC TRC bought a new position in shares of Direxion Daily AMZN Bear 1X Shares during the second quarter worth about $164,000. Finally, Jane Street Group LLC bought a new position in shares of Direxion Daily AMZN Bear 1X Shares during the fourth quarter worth about $153,000.

About Direxion Daily AMZN Bear 1X Shares

The Direxion Daily AMZN Bear 1X Shares ETF (AMZD) is an exchange-traded fund that is based on the Amazon.com, Inc index. The fund provides inverse (-1x) exposure, less fees and expenses, to the daily price movement for shares of Amazon stock. AMZD was launched on Sep 7, 2022 and is managed by Direxion.