Direxion Daily Magnificent 7 Bear 1X Shares (NYSEARCA:QQQD) Short Interest Down 82.2% in May

Direxion Daily Magnificent 7 Bear 1X Shares (NYSEARCA:QQQD) was the recipient of a large drop in short interest during the month of May. As of May 29th, there was short interest totaling 8,418 shares, a drop of 82.2% from the May 14th total of 47,261 shares. Currently, 0.5% of the company’s stock are short sold. Based on an average daily trading volume, of 142,405 shares, the short-interest ratio is currently 0.1 days.

Direxion Daily Magnificent 7 Bear 1X Shares Trading Up 0.2%

Shares of NYSEARCA QQQD traded up $0.02 during mid-day trading on Friday, reaching $13.21. The company had a trading volume of 57,693 shares, compared to its average volume of 182,285. The firm has a 50 day simple moving average of $12.93 and a two-hundred day simple moving average of $13.31. Direxion Daily Magnificent 7 Bear 1X Shares has a 52-week low of $12.01 and a 52-week high of $16.67.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of QQQD. Wakefield Asset Management LLLP purchased a new position in shares of Direxion Daily Magnificent 7 Bear 1X Shares in the 3rd quarter valued at $3,130,000. Susquehanna International Group LLP purchased a new position in shares of Direxion Daily Magnificent 7 Bear 1X Shares in the 3rd quarter valued at $433,000. Bank of Montreal Can purchased a new position in shares of Direxion Daily Magnificent 7 Bear 1X Shares in the 4th quarter valued at $54,000. Finally, Virtu Financial LLC purchased a new position in shares of Direxion Daily Magnificent 7 Bear 1X Shares in the 4th quarter valued at $454,000.

About Direxion Daily Magnificent 7 Bear 1X Shares

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.