Direxion Daily NFLX Bear 1X ETF (NASDAQ:NFXS) Stock Falls 4.8% – Should You Sell?

Shares of Direxion Daily NFLX Bear 1X ETF (NASDAQ:NFXS) dropped 4.8% during mid-day trading on Wednesday. The stock traded as low as $22.46 and last traded at $22.53. 12,909 shares were traded during mid-day trading, a decline of 71% from the average daily volume of 43,921 shares. The stock had previously closed at $23.67.

Direxion Daily NFLX Bear 1X ETF Stock Performance

The firm’s 50-day simple moving average is $21.21 and its 200 day simple moving average is $19.39.

Institutional Trading of Direxion Daily NFLX Bear 1X ETF

A hedge fund recently raised its position in Direxion Daily NFLX Bear 1X ETF stock. IMC Chicago LLC boosted its stake in shares of Direxion Daily NFLX Bear 1X ETF (NASDAQ:NFXS) by 203.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 61,642 shares of the company’s stock after purchasing an additional 41,342 shares during the period. IMC Chicago LLC owned 20.55% of Direxion Daily NFLX Bear 1X ETF worth $1,010,000 as of its most recent filing with the SEC.

Direxion Daily NFLX Bear 1X ETF Company Profile

The Direxion Daily NFLX Bear 1X Shares (NFXS) is an exchange-traded fund that mostly invests in communication services equity. The fund provides inverse (-1x) exposure, less fees and expenses, to the daily price movement for shares of Netflix stock. NFXS was launched on Oct 3, 2024 and is issued by Direxion.