Short Interest in Direxion Daily GOOGL Bear 1X Shares (NASDAQ:GGLS) Declines By 83.2%

Direxion Daily GOOGL Bear 1X Shares (NASDAQ:GGLS) was the target of a significant decrease in short interest during the month of May. As of May 15th, there was short interest totaling 113,573 shares, a decrease of 83.2% from the April 30th total of 674,508 shares. Currently, 5.8% of the shares of the company are sold short. Based on an average trading volume of 12,833,129 shares, the short-interest ratio is currently 0.0 days.

Hedge Funds Weigh In On Direxion Daily GOOGL Bear 1X Shares

Institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC bought a new position in shares of Direxion Daily GOOGL Bear 1X Shares during the fourth quarter worth about $331,000. Virtu Financial LLC bought a new position in shares of Direxion Daily GOOGL Bear 1X Shares during the third quarter worth about $312,000. Flow Traders U.S. LLC grew its position in shares of Direxion Daily GOOGL Bear 1X Shares by 48.0% during the second quarter. Flow Traders U.S. LLC now owns 17,354 shares of the company’s stock worth $215,000 after acquiring an additional 5,627 shares during the last quarter. Hamilton Wealth LLC bought a new position in shares of Direxion Daily GOOGL Bear 1X Shares during the first quarter worth about $5,936,000. Finally, XTX Topco Ltd bought a new position in shares of Direxion Daily GOOGL Bear 1X Shares during the fourth quarter worth about $109,000.

Direxion Daily GOOGL Bear 1X Shares Stock Up 2.6%

Shares of Direxion Daily GOOGL Bear 1X Shares stock traded up $0.14 during trading on Friday, hitting $5.45. 7,754,703 shares of the stock were exchanged, compared to its average volume of 14,729,254. The stock’s fifty day moving average is $6.13 and its 200 day moving average is $6.57. Direxion Daily GOOGL Bear 1X Shares has a 12 month low of $5.07 and a 12 month high of $13.62.

Direxion Daily GOOGL Bear 1X Shares Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 24th were given a dividend of $0.0526 per share. The ex-dividend date was Tuesday, March 24th. This represents a $0.21 annualized dividend and a dividend yield of 3.9%.

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.