Direxion Daily Magnificent 7 Bear 1X Shares (NYSEARCA:QQQD) Short Interest Up 324.7% in August

Direxion Daily Magnificent 7 Bear 1X Shares (NYSEARCA:QQQD) was the recipient of a significant increase in short interest during the month of August. As of August 14th, there was short interest totaling 73,368 shares, an increase of 324.7% from the July 30th total of 17,276 shares. Currently, 2.8% of the company’s shares are short sold. Based on an average daily volume of 55,060 shares, the short-interest ratio is currently 1.3 days.

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

QQQD stock traded down $0.10 during trading on Friday, hitting $12.31. The company had a trading volume of 13,330 shares, compared to its average volume of 154,559. Direxion Daily Magnificent 7 Bear 1X Shares has a 52-week low of $12.01 and a 52-week high of $15.52. The company has a 50 day simple moving average of $12.86 and a 200-day simple moving average of $13.23.

Hedge Funds Weigh In On Direxion Daily Magnificent 7 Bear 1X Shares

Institutional investors have recently modified their holdings of the stock. Virtu Financial LLC purchased a new stake in shares of Direxion Daily Magnificent 7 Bear 1X Shares in the fourth quarter valued at approximately $454,000. Bank of Montreal Can bought a new stake in Direxion Daily Magnificent 7 Bear 1X Shares during the 4th quarter valued at $54,000. Finally, Susquehanna International Group LLP purchased a new stake in shares of Direxion Daily Magnificent 7 Bear 1X Shares in the 3rd quarter worth $433,000.

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.