Direxion Daily AMZN Bear 1X Shares (NASDAQ:AMZD) Trading 1.6% Higher – Here’s Why

Direxion Daily AMZN Bear 1X Shares (NASDAQ:AMZD)’s stock price were up 1.6% during mid-day trading on Tuesday . The stock traded as high as $9.66 and last traded at $9.57. Approximately 9,037,855 shares were traded during mid-day trading, an increase of 44% from the average daily volume of 6,256,918 shares. The stock had previously closed at $9.42.

Direxion Daily AMZN Bear 1X Shares Stock Performance

The firm’s 50-day simple moving average is $10.02 and its 200 day simple moving average is $10.38.

Direxion Daily AMZN Bear 1X Shares Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 23rd were issued a $0.0774 dividend. The ex-dividend date of this dividend was Tuesday, December 23rd. This represents a $0.31 dividend on an annualized basis and a yield of 3.2%.

Institutional Investors Weigh In On Direxion Daily AMZN Bear 1X Shares

Several institutional investors have recently modified their holdings of AMZD. Flow Traders U.S. LLC grew its holdings in shares of Direxion Daily AMZN Bear 1X Shares by 30.1% in the 3rd quarter. Flow Traders U.S. LLC now owns 14,143 shares of the company’s stock worth $152,000 after acquiring an additional 3,272 shares during the period. Optiver Holding B.V. boosted its position in Direxion Daily AMZN Bear 1X Shares by 986.9% during the third quarter. Optiver Holding B.V. now owns 56,203 shares of the company’s stock worth $606,000 after purchasing an additional 51,032 shares in the last quarter. Cibc World Market Inc. acquired a new stake in Direxion Daily AMZN Bear 1X Shares in the third quarter valued at $888,000. PayPay Securities Corp increased its position in shares of Direxion Daily AMZN Bear 1X Shares by 96.1% in the third quarter. PayPay Securities Corp now owns 3,790 shares of the company’s stock valued at $41,000 after buying an additional 1,857 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new position in shares of Direxion Daily AMZN Bear 1X Shares during the 2nd quarter worth $747,000.

Direxion Daily AMZN Bear 1X Shares Company Profile

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.