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

Direxion Daily GOOGL Bear 1X Shares (NASDAQ:GGLS) was the recipient of a significant drop in short interest in March. As of March 13th, there was short interest totaling 205,933 shares, a drop of 30.0% from the February 26th total of 294,282 shares. Approximately 14.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 18,444,826 shares, the short-interest ratio is presently 0.0 days.

Direxion Daily GOOGL Bear 1X Shares Stock Performance

Shares of GGLS traded up $0.19 during trading hours on Friday, hitting $7.66. 25,022,539 shares of the company were exchanged, compared to its average volume of 14,957,354. Direxion Daily GOOGL Bear 1X Shares has a one year low of $6.09 and a one year high of $16.00. The firm has a fifty day simple moving average of $6.79 and a 200-day simple moving average of $7.34.

Direxion Daily GOOGL Bear 1X Shares Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 24th will be paid a $0.0526 dividend. This represents a $0.21 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Tuesday, March 24th.

Institutional Trading of Direxion Daily GOOGL Bear 1X Shares

A number of institutional investors have recently bought and sold shares of GGLS. IMC Chicago LLC lifted its position in Direxion Daily GOOGL Bear 1X Shares by 64.5% during the 3rd quarter. IMC Chicago LLC now owns 145,054 shares of the company’s stock worth $1,292,000 after acquiring an additional 56,890 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Direxion Daily GOOGL Bear 1X Shares during the 4th quarter worth approximately $331,000. Virtu Financial LLC acquired a new stake in Direxion Daily GOOGL Bear 1X Shares during the third quarter worth $312,000. Optiver Holding B.V. lifted its holdings in shares of Direxion Daily GOOGL Bear 1X Shares by 137.3% during the 3rd quarter. Optiver Holding B.V. now owns 29,454 shares of the company’s stock worth $262,000 after acquiring an additional 17,042 shares during the period. Finally, XTX Topco Ltd acquired a new stake in Direxion Daily GOOGL Bear 1X Shares during the fourth quarter valued at approximately $109,000.

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.