Direxion Daily GOOGL Bear 1X ETF (NASDAQ:GGLS) Sees Large Growth in Short Interest

Direxion Daily GOOGL Bear 1X ETF (NASDAQ:GGLS) was the target of a significant increase in short interest during the month of August. As of August 31st, there was short interest totaling 14,334 shares, an increase of 207.3% from the August 15th total of 4,665 shares. Currently, 3.8% of the shares of the company are sold short. Based on an average daily trading volume, of 73,581 shares, the short-interest ratio is currently 0.2 days.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GGLS. Hamilton Wealth LLC purchased a new position in shares of Direxion Daily GOOGL Bear 1X ETF during the 1st quarter valued at approximately $5,936,000. Citadel Advisors LLC raised its stake in shares of Direxion Daily GOOGL Bear 1X ETF by 100.0% during the 2nd quarter. Citadel Advisors LLC now owns 112,013 shares of the company’s stock worth $641,000 after buying an additional 56,008 shares during the period. Renaissance Technologies LLC acquired a new position in Direxion Daily GOOGL Bear 1X ETF during the fourth quarter worth $331,000. Virtu Financial LLC purchased a new position in Direxion Daily GOOGL Bear 1X ETF during the third quarter valued at $312,000. Finally, Optiver Holding B.V. lifted its holdings in Direxion Daily GOOGL Bear 1X ETF by 90.4% during the first quarter. Optiver Holding B.V. now owns 46,940 shares of the company’s stock valued at $342,000 after purchasing an additional 22,292 shares in the last quarter.

Direxion Daily GOOGL Bear 1X ETF Stock Performance

GGLS stock traded down $1.07 during midday trading on Friday, reaching $59.52. The stock had a trading volume of 81,694 shares, compared to its average volume of 1,150,792. The firm has a fifty day simple moving average of $58.48 and a two-hundred day simple moving average of $60.58. Direxion Daily GOOGL Bear 1X ETF has a 52-week low of $50.65 and a 52-week high of $91.75.

About Direxion Daily GOOGL Bear 1X ETF

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.