Direxion Daily Magnificent 7 Bear 1X ETF (NYSEARCA:QQQD) Short Interest Update

Direxion Daily Magnificent 7 Bear 1X ETF (NYSEARCA:QQQD) was the recipient of a significant drop in short interest during the month of August. As of August 31st, there was short interest totaling 16,106 shares, a drop of 78.0% from the August 15th total of 73,368 shares. Approximately 0.6% of the company’s stock are short sold. Based on an average daily trading volume, of 56,946 shares, the days-to-cover ratio is currently 0.3 days.

Direxion Daily Magnificent 7 Bear 1X ETF Trading Down 0.7%

Shares of NYSEARCA:QQQD traded down $0.09 during midday trading on Friday, hitting $12.22. 85,920 shares of the company’s stock were exchanged, compared to its average volume of 148,587. Direxion Daily Magnificent 7 Bear 1X ETF has a 12 month low of $12.01 and a 12 month high of $15.52. The stock has a 50 day moving average price of $12.63 and a 200-day moving average price of $13.11.

Institutional Trading of Direxion Daily Magnificent 7 Bear 1X ETF

Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of Montreal Can bought a new position in shares of Direxion Daily Magnificent 7 Bear 1X ETF in the fourth quarter valued at approximately $54,000. Susquehanna International Group LLP purchased a new stake in Direxion Daily Magnificent 7 Bear 1X ETF in the 3rd quarter valued at $433,000. Finally, Virtu Financial LLC bought a new position in Direxion Daily Magnificent 7 Bear 1X ETF during the 4th quarter valued at $454,000.

About Direxion Daily Magnificent 7 Bear 1X ETF

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.