Direxion Daily GOOGL Bear 1X Shares (NASDAQ:GGLS) Shares Up 0.7% – Time to Buy?

Direxion Daily GOOGL Bear 1X Shares (NASDAQ:GGLS) shares shot up 0.7% on Thursday . The stock traded as high as $8.98 and last traded at $8.80. 2,506,813 shares changed hands during mid-day trading, an increase of 661% from the average session volume of 329,565 shares. The stock had previously closed at $8.74.

Direxion Daily GOOGL Bear 1X Shares Price Performance

The firm’s 50-day simple moving average is $10.26 and its two-hundred day simple moving average is $12.38.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Flow Traders U.S. LLC boosted its stake in shares of Direxion Daily GOOGL Bear 1X Shares by 48.0% in the 2nd quarter. Flow Traders U.S. LLC now owns 17,354 shares of the company’s stock valued at $215,000 after purchasing an additional 5,627 shares during the last quarter. Jane Street Group LLC bought a new position in shares of Direxion Daily GOOGL Bear 1X Shares in the 2nd quarter valued at about $147,000. Finally, PayPay Securities Corp boosted its stake in shares of Direxion Daily GOOGL Bear 1X Shares by 66.8% in the 2nd quarter. PayPay Securities Corp now owns 2,262 shares of the company’s stock valued at $28,000 after purchasing an additional 906 shares during the last quarter.

Direxion Daily GOOGL Bear 1X Shares Company Profile

The Direxion Daily GOOGL Bear 1X Shares ETF (GGLS) is an exchange-traded fund that is based on the Alphabet Inc Class A index. The fund provides inverse (-1x) exposure, less fees and expenses, to the daily price movement for shares of Google stock. GGLS was launched on Sep 7, 2022 and is managed by Direxion.