Short Interest in Direxion Daily Magnificent 7 Bear 1X Shares (NYSEARCA:QQQD) Declines By 52.0%

Direxion Daily Magnificent 7 Bear 1X Shares (NYSEARCA:QQQD) saw a large drop in short interest in the month of January. As of January 30th, there was short interest totaling 37,550 shares, a drop of 52.0% from the January 15th total of 78,210 shares. Approximately 2.6% of the shares of the company are short sold. Based on an average daily trading volume, of 140,697 shares, the short-interest ratio is currently 0.3 days. Based on an average daily trading volume, of 140,697 shares, the short-interest ratio is currently 0.3 days. Approximately 2.6% of the shares of the company are short sold.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in QQQD. Bank of Montreal Can purchased a new stake in shares of Direxion Daily Magnificent 7 Bear 1X Shares in the fourth quarter worth about $54,000. Susquehanna International Group LLP purchased a new stake in Direxion Daily Magnificent 7 Bear 1X Shares in the 3rd quarter worth approximately $433,000. Wakefield Asset Management LLLP bought a new position in Direxion Daily Magnificent 7 Bear 1X Shares in the 3rd quarter valued at $3,130,000. Finally, One Plus One Wealth Management LLC purchased a new position in shares of Direxion Daily Magnificent 7 Bear 1X Shares during the 3rd quarter valued at $4,213,000.

Direxion Daily Magnificent 7 Bear 1X Shares Trading Up 1.2%

QQQD stock traded up $0.16 during midday trading on Friday, reaching $14.07. 320,417 shares of the company’s stock traded hands, compared to its average volume of 180,592. The company has a 50-day moving average price of $13.15 and a two-hundred day moving average price of $13.58. Direxion Daily Magnificent 7 Bear 1X Shares has a 52 week low of $12.66 and a 52 week high of $23.18.

About Direxion Daily Magnificent 7 Bear 1X Shares

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.