Direxion Daily Magnificent 7 Bear 1X Shares (NYSEARCA:QQQD) Sees Significant Increase in Short Interest

Direxion Daily Magnificent 7 Bear 1X Shares (NYSEARCA:QQQD) was the recipient of a significant growth in short interest in the month of August. As of August 14th, there was short interest totaling 73,368 shares, a growth of 324.7% from the July 30th total of 17,276 shares. Based on an average daily volume of 55,060 shares, the short-interest ratio is presently 1.3 days. Approximately 2.8% of the shares of the stock are sold short.

Direxion Daily Magnificent 7 Bear 1X Shares Trading Up 0.6%

QQQD traded up $0.08 on Wednesday, hitting $12.65. 13,085 shares of the company were exchanged, compared to its average volume of 156,078. The business’s fifty day moving average is $12.89 and its 200 day moving average is $13.24. Direxion Daily Magnificent 7 Bear 1X Shares has a fifty-two week low of $12.01 and a fifty-two week high of $15.52.

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

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Virtu Financial LLC purchased a new stake in Direxion Daily Magnificent 7 Bear 1X Shares during the fourth quarter worth $454,000. Susquehanna International Group LLP purchased a new stake in shares of Direxion Daily Magnificent 7 Bear 1X Shares in the 3rd quarter worth about $433,000. Finally, Bank of Montreal Can purchased a new position in Direxion Daily Magnificent 7 Bear 1X Shares during the 4th quarter valued at about $54,000.

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.