Direxion Daily GOOGL Bear 1X Shares (NASDAQ:GGLS) Trading Up 2% – Here’s Why

Direxion Daily GOOGL Bear 1X Shares (NASDAQ:GGLS)’s stock price were up 2% on Friday . The company traded as high as $7.11 and last traded at $7.05. Approximately 19,899,385 shares changed hands during mid-day trading, an increase of 43% from the average daily volume of 13,914,638 shares. The stock had previously closed at $6.91.

Direxion Daily GOOGL Bear 1X Shares Price Performance

The firm’s 50 day simple moving average is $6.69 and its 200-day simple moving average is $7.42.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. PayPay Securities Corp raised its holdings in Direxion Daily GOOGL Bear 1X Shares by 289.5% during the fourth quarter. PayPay Securities Corp now owns 11,822 shares of the company’s stock worth $80,000 after purchasing an additional 8,787 shares in the last quarter. Jane Street Group LLC purchased a new stake in Direxion Daily GOOGL Bear 1X Shares in the 2nd quarter valued at approximately $147,000. XTX Topco Ltd acquired a new position in Direxion Daily GOOGL Bear 1X Shares during the 4th quarter worth approximately $109,000. Flow Traders U.S. LLC increased its position in Direxion Daily GOOGL Bear 1X Shares by 48.0% during the 2nd quarter. Flow Traders U.S. LLC now owns 17,354 shares of the company’s stock worth $215,000 after purchasing an additional 5,627 shares during the period. Finally, Optiver Holding B.V. raised its stake in shares of Direxion Daily GOOGL Bear 1X Shares by 137.3% during the 3rd quarter. Optiver Holding B.V. now owns 29,454 shares of the company’s stock worth $262,000 after buying an additional 17,042 shares in 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.