Direxion Daily Magnificent 7 Bear 1X Shares (NYSEARCA:QQQD) Short Interest Down 71.4% in July

Direxion Daily Magnificent 7 Bear 1X Shares (NYSEARCA:QQQD) was the recipient of a large decline in short interest in July. As of July 15th, there was short interest totaling 16,417 shares, a decline of 71.4% from the June 30th total of 57,490 shares. Based on an average daily trading volume, of 118,284 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.6% of the company’s stock are sold short.

Direxion Daily Magnificent 7 Bear 1X Shares Stock Performance

Shares of QQQD traded up $0.01 during trading on Monday, reaching $13.49. The company’s stock had a trading volume of 89,225 shares, compared to its average volume of 170,570. The company has a fifty day moving average of $12.83 and a two-hundred day moving average of $13.31. Direxion Daily Magnificent 7 Bear 1X Shares has a twelve month low of $12.01 and a twelve month high of $15.52.

Hedge Funds Weigh In On Direxion Daily Magnificent 7 Bear 1X Shares

Several institutional investors have recently made changes to their positions in the stock. Bank of Montreal Can bought a new stake in shares of Direxion Daily Magnificent 7 Bear 1X Shares in the 4th quarter worth approximately $54,000. Susquehanna International Group LLP bought a new position in Direxion Daily Magnificent 7 Bear 1X Shares during the 3rd quarter worth $433,000. Finally, Virtu Financial LLC bought a new position in Direxion Daily Magnificent 7 Bear 1X Shares during the 4th quarter worth $454,000.

Direxion Daily Magnificent 7 Bear 1X Shares Company Profile

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.