Short Interest in Direxion Daily Magnificent 7 Bear 1X Shares (NYSEARCA:QQQD) Drops By 59.8%

Direxion Daily Magnificent 7 Bear 1X Shares (NYSEARCA:QQQD) was the target of a significant decline in short interest in March. As of March 13th, there was short interest totaling 40,783 shares, a decline of 59.8% from the February 26th total of 101,470 shares. Approximately 2.8% of the shares of the stock are short sold. Based on an average daily volume of 218,734 shares, the days-to-cover ratio is presently 0.2 days.

Direxion Daily Magnificent 7 Bear 1X Shares Stock Down 0.8%

QQQD opened at $14.53 on Thursday. Direxion Daily Magnificent 7 Bear 1X Shares has a twelve month low of $12.66 and a twelve month high of $23.18. The company has a 50-day simple moving average of $13.75 and a 200 day simple moving average of $13.46.

Institutional Trading of Direxion Daily Magnificent 7 Bear 1X Shares

A number of institutional investors and hedge funds have recently made changes to their positions in the company. One Plus One Wealth Management LLC bought a new position in Direxion Daily Magnificent 7 Bear 1X Shares in the third quarter valued at approximately $4,213,000. Wakefield Asset Management LLLP bought a new stake in Direxion Daily Magnificent 7 Bear 1X Shares during the third quarter worth $3,130,000. Virtu Financial LLC acquired a new stake in shares of Direxion Daily Magnificent 7 Bear 1X Shares in the 4th quarter valued at $454,000. Susquehanna International Group LLP acquired a new stake in shares of Direxion Daily Magnificent 7 Bear 1X Shares in the 3rd quarter valued at $433,000. Finally, Bank of Montreal Can bought a new position in shares of Direxion Daily Magnificent 7 Bear 1X Shares in the 4th quarter valued at $54,000.

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.