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

Direxion Daily Magnificent 7 Bear 1X Shares (NYSEARCA:QQQD) saw a large growth in short interest during the month of May. As of May 15th, there was short interest totaling 47,261 shares, a growth of 154.8% from the April 30th total of 18,548 shares. Approximately 2.6% of the company’s shares are sold short. Based on an average trading volume of 104,463 shares, the short-interest ratio is currently 0.5 days.

Institutional Trading of Direxion Daily Magnificent 7 Bear 1X Shares

A number of institutional investors and hedge funds have recently made changes to their positions in QQQD. Bank of Montreal Can acquired a new stake in shares of Direxion Daily Magnificent 7 Bear 1X Shares during the 4th quarter worth $54,000. Susquehanna International Group LLP acquired a new stake in shares of Direxion Daily Magnificent 7 Bear 1X Shares during the 3rd quarter worth $433,000. Virtu Financial LLC acquired a new stake in shares of Direxion Daily Magnificent 7 Bear 1X Shares during the 4th quarter worth $454,000. Finally, Wakefield Asset Management LLLP acquired a new stake in shares of Direxion Daily Magnificent 7 Bear 1X Shares during the 3rd quarter worth $3,130,000.

Direxion Daily Magnificent 7 Bear 1X Shares Trading Up 0.7%

Shares of QQQD stock traded up $0.08 on Monday, reaching $12.22. 44,200 shares of the stock were exchanged, compared to its average volume of 179,768. The firm has a 50 day moving average of $13.30 and a two-hundred day moving average of $13.36. Direxion Daily Magnificent 7 Bear 1X Shares has a 1-year low of $12.01 and a 1-year high of $17.14.

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.