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

Direxion Daily AMZN Bear 1X Shares (NASDAQ:AMZD) saw a significant drop in short interest in the month of May. As of May 15th, there was short interest totaling 97,834 shares, a drop of 72.0% from the April 30th total of 349,937 shares. Approximately 5.5% of the company’s shares are sold short. Based on an average daily trading volume, of 11,812,718 shares, the days-to-cover ratio is presently 0.0 days.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Geneos Wealth Management Inc. purchased a new position in Direxion Daily AMZN Bear 1X Shares during the first quarter worth about $35,000. PayPay Securities Corp lifted its position in shares of Direxion Daily AMZN Bear 1X Shares by 69.1% during the fourth quarter. PayPay Securities Corp now owns 6,408 shares of the company’s stock worth $64,000 after purchasing an additional 2,618 shares in the last quarter. Flow Traders U.S. LLC acquired a new stake in shares of Direxion Daily AMZN Bear 1X Shares during the second quarter worth about $119,000. Jane Street Group LLC acquired a new stake in shares of Direxion Daily AMZN Bear 1X Shares during the fourth quarter worth about $153,000. Finally, Tower Research Capital LLC TRC acquired a new stake in shares of Direxion Daily AMZN Bear 1X Shares during the second quarter worth about $164,000.

Direxion Daily AMZN Bear 1X Shares Stock Down 0.8%

Shares of AMZD stock opened at $8.33 on Friday. The company has a 50-day moving average of $9.48 and a two-hundred day moving average of $10.02. Direxion Daily AMZN Bear 1X Shares has a 1-year low of $8.19 and a 1-year high of $11.92.

Direxion Daily AMZN Bear 1X Shares Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 24th were paid a dividend of $0.0541 per share. This represents a $0.22 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Tuesday, March 24th.

About Direxion Daily AMZN Bear 1X Shares

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.