Direxion Daily AMZN Bear 1X Shares (NASDAQ:AMZD) Sees Significant Decline in Short Interest

Direxion Daily AMZN Bear 1X Shares (NASDAQ:AMZD) was the target of a large drop in short interest in the month of August. As of August 14th, there was short interest totaling 132,716 shares, a drop of 88.5% from the July 30th total of 1,149,545 shares. Approximately 10.8% of the shares of the company are sold short. Based on an average daily volume of 10,014,087 shares, the days-to-cover ratio is currently 0.0 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hamilton Wealth LLC purchased a new stake in shares of Direxion Daily AMZN Bear 1X Shares during the 1st quarter worth about $330,000. IMC Chicago LLC purchased a new position in shares of Direxion Daily AMZN Bear 1X Shares in the 1st quarter valued at about $1,479,000. Geneos Wealth Management Inc. purchased a new position in shares of Direxion Daily AMZN Bear 1X Shares in the 1st quarter valued at about $35,000. Virtu Financial LLC acquired a new position in Direxion Daily AMZN Bear 1X Shares in the 4th quarter worth about $167,000. Finally, Jump Financial LLC raised its holdings in Direxion Daily AMZN Bear 1X Shares by 482.4% in the 4th quarter. Jump Financial LLC now owns 187,294 shares of the company’s stock worth $1,884,000 after purchasing an additional 155,137 shares during the period.

Direxion Daily AMZN Bear 1X Shares Price Performance

Shares of NASDAQ:AMZD traded up $0.04 during trading on Tuesday, hitting $8.40. 8,662,918 shares of the stock traded hands, compared to its average volume of 11,688,531. The company has a fifty day moving average price of $8.98 and a two-hundred day moving average price of $9.60. Direxion Daily AMZN Bear 1X Shares has a 52-week low of $7.64 and a 52-week high of $11.77.

Direxion Daily AMZN Bear 1X Shares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd were given a dividend of $0.0623 per share. This represents a $0.25 annualized dividend and a yield of 3.0%. The ex-dividend date was Tuesday, June 23rd.

Direxion Daily AMZN Bear 1X Shares Company Profile

The Direxion Daily AMZN Bear 1X Shares ETF (AMZD) is an exchange-traded fund that is based on the Amazon.com, Inc index. The fund provides inverse (-1x) exposure, less fees and expenses, to the daily price movement for shares of Amazon stock. AMZD was launched on Sep 7, 2022 and is managed by Direxion.