Direxion Daily Magnificent 7 Bear 1X ETF (NYSEARCA:QQQD) Short Interest Down 78.0% in August

Direxion Daily Magnificent 7 Bear 1X ETF (NYSEARCA:QQQD) was the recipient of a large decline in short interest during the month of August. As of August 31st, there was short interest totaling 16,106 shares, a decline of 78.0% from the August 15th total of 73,368 shares. Currently, 0.6% of the company’s shares are sold short. Based on an average trading volume of 56,946 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Trading of Direxion Daily Magnificent 7 Bear 1X ETF

Several hedge funds have recently made changes to their positions in the company. Susquehanna International Group LLP acquired a new stake in shares of Direxion Daily Magnificent 7 Bear 1X ETF during the 3rd quarter worth approximately $433,000. Bank of Montreal Can purchased a new stake in shares of Direxion Daily Magnificent 7 Bear 1X ETF during the 4th quarter valued at approximately $54,000. Finally, Virtu Financial LLC acquired a new position in Direxion Daily Magnificent 7 Bear 1X ETF in the fourth quarter valued at approximately $454,000.

Direxion Daily Magnificent 7 Bear 1X ETF Price Performance

Shares of QQQD opened at $12.31 on Friday. Direxion Daily Magnificent 7 Bear 1X ETF has a 12-month low of $12.01 and a 12-month high of $15.52. The firm has a 50-day moving average price of $12.65 and a 200 day moving average price of $13.12.

About Direxion Daily Magnificent 7 Bear 1X ETF

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.