Direxion Daily AAPL Bear 1X Shares (NASDAQ:AAPD) Sees Significant Growth in Short Interest

Direxion Daily AAPL Bear 1X Shares (NASDAQ:AAPD) was the recipient of a significant growth in short interest in March. As of March 15th, there was short interest totalling 129,300 shares, a growth of 105.9% from the February 28th total of 62,800 shares. Currently, 8.9% of the shares of the stock are short sold. Based on an average trading volume of 1,097,200 shares, the days-to-cover ratio is presently 0.1 days.

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

Several institutional investors have recently added to or reduced their stakes in AAPD. Flow Traders U.S. LLC purchased a new position in Direxion Daily AAPL Bear 1X Shares in the third quarter valued at approximately $295,000. Virtu Financial LLC bought a new stake in shares of Direxion Daily AAPL Bear 1X Shares in the 3rd quarter worth about $280,000. PayPay Securities Corp acquired a new stake in Direxion Daily AAPL Bear 1X Shares during the fourth quarter valued at approximately $64,000. Advisory Services Network LLC acquired a new stake in shares of Direxion Daily AAPL Bear 1X Shares during the 4th quarter valued at approximately $1,077,000. Finally, Rossby Financial LCC bought a new position in shares of Direxion Daily AAPL Bear 1X Shares in the 4th quarter worth about $191,000.

Direxion Daily AAPL Bear 1X Shares Price Performance

Shares of NASDAQ:AAPD opened at $17.38 on Friday. The business’s 50 day simple moving average is $16.57 and its 200-day simple moving average is $16.45. Direxion Daily AAPL Bear 1X Shares has a 12 month low of $14.70 and a 12 month high of $23.72.

Direxion Daily AAPL Bear 1X Shares Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 25th will be issued a dividend of $0.1176 per share. The ex-dividend date of this dividend is Tuesday, March 25th. This represents a $0.47 dividend on an annualized basis and a dividend yield of 2.71%.

Direxion Daily AAPL Bear 1X Shares Company Profile

The Direxion Daily AAPL Bear 1X Shares ETF (AAPD) is an exchange-traded fund that is based on the Apple Inc index. The fund provides inverse (-1x) exposure, less fees and expenses, to the daily price movement for shares of Apple stock. AAPD was launched on Aug 9, 2022 and is managed by Direxion.