Direxion Daily GOOGL Bear 1X Shares (NASDAQ:GGLS) Sees Significant Drop in Short Interest

Direxion Daily GOOGL Bear 1X Shares (NASDAQ:GGLS) was the recipient of a large decrease in short interest in the month of July. As of July 15th, there was short interest totaling 11,335 shares, a decrease of 96.9% from the June 30th total of 361,908 shares. Approximately 4.9% of the shares of the stock are sold short. Based on an average trading volume of 1,047,764 shares, the days-to-cover ratio is presently 0.0 days.

Institutional Investors Weigh In On Direxion Daily GOOGL Bear 1X Shares

A number of large investors have recently bought and sold shares of GGLS. Flow Traders U.S. LLC raised its position in shares of Direxion Daily GOOGL Bear 1X Shares by 48.0% in the 2nd quarter. Flow Traders U.S. LLC now owns 17,354 shares of the company’s stock valued at $215,000 after buying an additional 5,627 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Direxion Daily GOOGL Bear 1X Shares during the 2nd quarter worth approximately $147,000. Virtu Financial LLC acquired a new stake in shares of Direxion Daily GOOGL Bear 1X Shares during the 3rd quarter worth approximately $312,000. PayPay Securities Corp increased its stake in Direxion Daily GOOGL Bear 1X Shares by 289.5% in the fourth quarter. PayPay Securities Corp now owns 11,822 shares of the company’s stock valued at $80,000 after acquiring an additional 8,787 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in Direxion Daily GOOGL Bear 1X Shares in the fourth quarter valued at approximately $331,000.

Direxion Daily GOOGL Bear 1X Shares Stock Performance

Shares of GGLS traded down $0.33 during trading hours on Friday, hitting $63.57. 134,410 shares of the company were exchanged, compared to its average volume of 1,407,942. Direxion Daily GOOGL Bear 1X Shares has a fifty-two week low of $50.65 and a fifty-two week high of $116.40. The firm’s fifty day moving average is $56.73 and its 200 day moving average is $62.27.

Direxion Daily GOOGL Bear 1X Shares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd were given a dividend of $0.3321 per share. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $1.33 annualized dividend and a yield of 2.1%.

About Direxion Daily GOOGL Bear 1X Shares

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