Direxion Daily Magnificent 7 Bear 1X Shares (NYSEARCA:QQQD) Short Interest Up 664.8% in June

Direxion Daily Magnificent 7 Bear 1X Shares (NYSEARCA:QQQD) saw a large growth in short interest in the month of June. As of June 15th, there was short interest totaling 64,382 shares, a growth of 664.8% from the May 31st total of 8,418 shares. Approximately 3.6% of the shares of the company are sold short. Based on an average daily volume of 189,809 shares, the short-interest ratio is presently 0.3 days.

Direxion Daily Magnificent 7 Bear 1X Shares Stock Up 2.4%

Shares of QQQD stock opened at $13.91 on Friday. Direxion Daily Magnificent 7 Bear 1X Shares has a 52 week low of $12.01 and a 52 week high of $16.00. The firm’s 50-day simple moving average is $12.72 and its two-hundred day simple moving average is $13.32.

Institutional Investors Weigh In On Direxion Daily Magnificent 7 Bear 1X Shares

Hedge funds have recently modified their holdings of the stock. Wakefield Asset Management LLLP purchased a new position in Direxion Daily Magnificent 7 Bear 1X Shares in the third quarter valued at approximately $3,130,000. Virtu Financial LLC bought a new stake in shares of Direxion Daily Magnificent 7 Bear 1X Shares in the fourth quarter valued at $454,000. Susquehanna International Group LLP bought a new stake in shares of Direxion Daily Magnificent 7 Bear 1X Shares in the third quarter valued at $433,000. Finally, Bank of Montreal Can purchased a new position in shares of Direxion Daily Magnificent 7 Bear 1X Shares during the 4th quarter valued at $54,000.

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.