Short Interest in Direxion Daily GOOGL Bear 1X Shares (NASDAQ:GGLS) Declines By 34.9%

Direxion Daily GOOGL Bear 1X Shares (NASDAQ:GGLS) was the recipient of a significant decrease in short interest in the month of March. As of March 15th, there was short interest totalling 24,200 shares, a decrease of 34.9% from the February 28th total of 37,200 shares. Approximately 7.6% of the company’s stock are short sold. Based on an average daily trading volume, of 105,200 shares, the short-interest ratio is presently 0.2 days.

Direxion Daily GOOGL Bear 1X Shares Trading Up 4.8 %

Shares of NASDAQ:GGLS traded up $0.67 on Friday, hitting $14.64. 66,184 shares of the company’s stock were exchanged, compared to its average volume of 54,607. Direxion Daily GOOGL Bear 1X Shares has a 1-year low of $11.14 and a 1-year high of $15.98. The firm’s 50-day moving average is $12.83 and its 200 day moving average is $13.20.

Direxion Daily GOOGL Bear 1X Shares Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 25th will be issued a dividend of $0.0986 per share. This represents a $0.39 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date is Tuesday, March 25th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Jump Financial LLC acquired a new position in Direxion Daily GOOGL Bear 1X Shares in the 4th quarter valued at about $562,000. Optiver Holding B.V. acquired a new stake in shares of Direxion Daily GOOGL Bear 1X Shares in the fourth quarter worth $494,000. Virtu Financial LLC acquired a new stake in Direxion Daily GOOGL Bear 1X Shares in the 3rd quarter valued at $517,000. Flow Traders U.S. LLC purchased a new stake in shares of Direxion Daily GOOGL Bear 1X Shares during the 3rd quarter valued at about $228,000. Finally, PayPay Securities Corp acquired a new position in shares of Direxion Daily GOOGL Bear 1X Shares during the fourth quarter worth $64,000.

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.