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

Direxion Daily GOOGL Bear 1X Shares (NASDAQ:GGLS) saw a significant decline in short interest in March. As of March 13th, there was short interest totaling 205,933 shares, a decline of 30.0% from the February 26th total of 294,282 shares. Currently, 14.5% of the shares of the stock are sold short. Based on an average daily volume of 18,444,826 shares, the days-to-cover ratio is currently 0.0 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GGLS. IMC Chicago LLC boosted its position in shares of 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 buying an additional 56,890 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Direxion Daily GOOGL Bear 1X Shares during the 4th quarter worth approximately $331,000. Virtu Financial LLC bought a new position in shares of Direxion Daily GOOGL Bear 1X Shares in the 3rd quarter valued at about $312,000. Optiver Holding B.V. grew its holdings 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 purchasing an additional 17,042 shares during the period. Finally, XTX Topco Ltd acquired a new position in shares of Direxion Daily GOOGL Bear 1X Shares during the 4th quarter worth approximately $109,000.

Direxion Daily GOOGL Bear 1X Shares Stock Up 2.5%

GGLS traded up $0.19 during mid-day trading on Friday, reaching $7.66. The stock had a trading volume of 25,022,539 shares, compared to its average volume of 14,957,354. The firm’s fifty day simple moving average is $6.79 and its two-hundred day simple moving average is $7.34. Direxion Daily GOOGL Bear 1X Shares has a 52 week low of $6.09 and a 52 week high of $16.00.

Direxion Daily GOOGL Bear 1X Shares Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 24th will be issued a $0.0526 dividend. The ex-dividend date is Tuesday, March 24th. This represents a $0.21 annualized dividend and a yield of 2.7%.

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.