Direxion Daily AMZN Bear 1X Shares (NASDAQ:AMZD) Trading Down 3.8% – What’s Next?

Direxion Daily AMZN Bear 1X Shares (NASDAQ:AMZD)’s share price fell 3.8% during mid-day trading on Tuesday . The company traded as low as $9.04 and last traded at $9.16. 10,501,349 shares traded hands during trading, an increase of 7% from the average session volume of 9,806,767 shares. The stock had previously closed at $9.52.

Direxion Daily AMZN Bear 1X Shares Trading Down 3.8%

The stock’s 50-day simple moving average is $10.89 and its 200-day simple moving average is $10.40.

Direxion Daily AMZN Bear 1X Shares Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 24th were given a dividend of $0.0541 per share. This represents a $0.22 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Tuesday, March 24th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC purchased a new position in Direxion Daily AMZN Bear 1X Shares during the 4th quarter valued at $167,000. Jump Financial LLC increased its position in Direxion Daily AMZN Bear 1X Shares by 482.4% during the 4th quarter. Jump Financial LLC now owns 187,294 shares of the company’s stock valued at $1,884,000 after purchasing an additional 155,137 shares during the period. Jane Street Group LLC purchased a new position in Direxion Daily AMZN Bear 1X Shares during the 4th quarter valued at $153,000. PayPay Securities Corp increased its position in Direxion Daily AMZN Bear 1X Shares by 69.1% during the 4th quarter. PayPay Securities Corp now owns 6,408 shares of the company’s stock valued at $64,000 after purchasing an additional 2,618 shares during the period. Finally, Flow Traders U.S. LLC increased its position in Direxion Daily AMZN Bear 1X Shares by 30.1% during the 3rd quarter. Flow Traders U.S. LLC now owns 14,143 shares of the company’s stock valued at $152,000 after purchasing an additional 3,272 shares during the period.

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.