Direxion Daily AMZN Bear 1X Shares (NASDAQ:AMZD) Short Interest Up 691.3% in July

Direxion Daily AMZN Bear 1X Shares (NASDAQ:AMZD) saw a large increase in short interest during the month of July. As of July 31st, there was short interest totaling 1,149,545 shares, an increase of 691.3% from the July 15th total of 145,276 shares. Based on an average daily volume of 15,109,216 shares, the days-to-cover ratio is currently 0.1 days. Approximately 93.5% of the company’s stock are sold short.

Direxion Daily AMZN Bear 1X Shares Stock Performance

Direxion Daily AMZN Bear 1X Shares stock opened at $8.27 on Friday. The firm’s fifty day simple moving average is $9.12 and its 200-day simple moving average is $9.66. Direxion Daily AMZN Bear 1X Shares has a 1-year low of $7.64 and a 1-year high of $11.77.

Direxion Daily AMZN Bear 1X Shares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd were issued a $0.0623 dividend. The ex-dividend date was Tuesday, June 23rd. This represents a $0.25 dividend on an annualized basis and a yield of 3.0%.

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

Institutional investors have recently bought and sold shares of the stock. Hamilton Wealth LLC acquired a new position in shares of Direxion Daily AMZN Bear 1X Shares during the 1st quarter valued at about $990,000. IMC Chicago LLC acquired a new stake in Direxion Daily AMZN Bear 1X Shares in the 1st quarter worth approximately $1,479,000. Geneos Wealth Management Inc. acquired a new stake in Direxion Daily AMZN Bear 1X Shares in the 1st quarter worth approximately $35,000. Flow Traders U.S. LLC bought a new stake in Direxion Daily AMZN Bear 1X Shares during the second quarter worth approximately $119,000. Finally, PayPay Securities Corp boosted its position in Direxion Daily AMZN Bear 1X Shares by 69.1% during the fourth quarter. PayPay Securities Corp now owns 6,408 shares of the company’s stock worth $64,000 after purchasing an additional 2,618 shares during the period.

Direxion Daily AMZN Bear 1X Shares Company Profile

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.