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

Direxion Daily GOOGL Bear 1X Shares (NASDAQ:GGLS) was the target of a large decrease in short interest during the month of May. As of May 15th, there was short interest totaling 113,573 shares, a decrease of 83.2% from the April 30th total of 674,508 shares. Currently, 5.8% of the shares of the stock are sold short. Based on an average daily volume of 12,833,129 shares, the short-interest ratio is presently 0.0 days.

Hedge Funds Weigh In On Direxion Daily GOOGL Bear 1X Shares

Several large investors have recently modified their holdings of GGLS. Flow Traders U.S. LLC raised its stake in shares of 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 valued at $215,000 after acquiring an additional 5,627 shares during the last quarter. Jane Street Group LLC bought a new position in shares of Direxion Daily GOOGL Bear 1X Shares during the second quarter valued at $147,000. IMC Chicago LLC raised its stake 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 valued at $1,292,000 after acquiring an additional 56,890 shares during the last quarter. Optiver Holding B.V. raised its stake in shares of 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 valued at $262,000 after acquiring an additional 17,042 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Direxion Daily GOOGL Bear 1X Shares during the third quarter valued at $312,000.

Direxion Daily GOOGL Bear 1X Shares Price Performance

Shares of NASDAQ:GGLS opened at $5.32 on Thursday. The firm has a 50 day simple moving average of $6.19 and a 200 day simple moving average of $6.59. Direxion Daily GOOGL Bear 1X Shares has a one year low of $5.07 and a one year high of $13.62.

Direxion Daily GOOGL Bear 1X Shares Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 24th were paid a $0.0526 dividend. The ex-dividend date of this dividend was Tuesday, March 24th. This represents a $0.21 annualized dividend and a yield of 4.0%.

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.