Direxion Daily GOOGL Bear 1X Shares (NASDAQ:GGLS) Sees Significant Growth in Short Interest

Direxion Daily GOOGL Bear 1X Shares (NASDAQ:GGLS) was the recipient of a significant growth in short interest during the month of March. As of March 31st, there was short interest totaling 531,840 shares, a growth of 158.3% from the March 15th total of 205,933 shares. Currently, 35.5% of the company’s shares are sold short. Based on an average daily volume of 23,485,344 shares, the days-to-cover ratio is presently 0.0 days.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. IMC Chicago LLC increased its stake in Direxion Daily GOOGL Bear 1X Shares by 64.5% during the third quarter. IMC Chicago LLC now owns 145,054 shares of the company’s stock worth $1,292,000 after acquiring an additional 56,890 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in Direxion Daily GOOGL Bear 1X Shares during the fourth quarter worth about $331,000. Virtu Financial LLC acquired a new stake in Direxion Daily GOOGL Bear 1X Shares during the third quarter worth about $312,000. Optiver Holding B.V. increased its stake in Direxion Daily GOOGL Bear 1X Shares by 137.3% during the third quarter. Optiver Holding B.V. now owns 29,454 shares of the company’s stock worth $262,000 after acquiring an additional 17,042 shares during the last quarter. Finally, Flow Traders U.S. LLC increased its stake in Direxion Daily GOOGL Bear 1X Shares by 48.0% during the second quarter. Flow Traders U.S. LLC now owns 17,354 shares of the company’s stock worth $215,000 after acquiring an additional 5,627 shares during the last quarter.

Direxion Daily GOOGL Bear 1X Shares Trading Up 0.6%

Direxion Daily GOOGL Bear 1X Shares stock opened at $6.61 on Friday. The stock has a fifty day moving average price of $6.91 and a 200 day moving average price of $7.21. Direxion Daily GOOGL Bear 1X Shares has a 52 week low of $6.09 and a 52 week high of $15.26.

Direxion Daily GOOGL Bear 1X Shares Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 24th were paid a dividend of $0.0526 per share. The ex-dividend date was Tuesday, March 24th. This represents a $0.21 annualized dividend and a yield of 3.2%.

About Direxion Daily GOOGL Bear 1X Shares

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.