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

Direxion Daily GOOGL Bear 1X Shares (NASDAQ:GGLS) saw a large decrease in short interest during the month of March. As of March 15th, there was short interest totalling 5,900 shares, a decrease of 81.2% from the February 29th total of 31,400 shares. Based on an average daily trading volume, of 39,800 shares, the short-interest ratio is presently 0.1 days.

Direxion Daily GOOGL Bear 1X Shares Price Performance

Shares of Direxion Daily GOOGL Bear 1X Shares stock remained flat at $15.87 during midday trading on Wednesday. The company had a trading volume of 11,883 shares, compared to its average volume of 41,508. The firm has a 50-day moving average price of $16.77 and a 200 day moving average price of $17.54. Direxion Daily GOOGL Bear 1X Shares has a 52 week low of $15.69 and a 52 week high of $24.91.

Direxion Daily GOOGL Bear 1X Shares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Wednesday, March 20th were paid a dividend of $0.079 per share. The ex-dividend date of this dividend was Tuesday, March 19th. This represents a $0.32 annualized dividend and a yield of 1.99%.

Institutional Trading of Direxion Daily GOOGL Bear 1X Shares

Institutional investors have recently added to or reduced their stakes in the business. IMC Chicago LLC purchased a new stake in Direxion Daily GOOGL Bear 1X Shares during the 3rd quarter valued at $293,000. Flow Traders U.S. LLC bought a new stake in shares of Direxion Daily GOOGL Bear 1X Shares in the fourth quarter worth $477,000. Goldman Sachs Group Inc. grew its holdings in shares of Direxion Daily GOOGL Bear 1X Shares by 39.0% in the second quarter. Goldman Sachs Group Inc. now owns 17,122 shares of the company’s stock worth $352,000 after acquiring an additional 4,808 shares during the period. Finally, Wakefield Asset Management LLLP bought a new stake in shares of Direxion Daily GOOGL Bear 1X Shares in the fourth quarter worth $690,000.

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.