Short Interest in Direxion Daily AMZN Bear 1X Shares (NASDAQ:AMZD) Declines By 59.0%

Direxion Daily AMZN Bear 1X Shares (NASDAQ:AMZD) was the recipient of a significant decline in short interest during the month of March. As of March 31st, there was short interest totalling 27,800 shares, a decline of 59.0% from the March 15th total of 67,800 shares. Currently, 9.9% of the company’s stock are short sold. Based on an average daily volume of 278,800 shares, the days-to-cover ratio is presently 0.1 days.

Direxion Daily AMZN Bear 1X Shares Stock Up 2.9 %

Shares of AMZD opened at $13.94 on Thursday. Direxion Daily AMZN Bear 1X Shares has a 52-week low of $10.44 and a 52-week high of $16.84. The stock has a 50 day moving average price of $12.55 and a 200 day moving average price of $12.28.

Direxion Daily AMZN Bear 1X Shares Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 25th were issued a $0.1039 dividend. This represents a $0.42 annualized dividend and a dividend yield of 2.98%. The ex-dividend date was Tuesday, March 25th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. PayPay Securities Corp purchased a new stake in Direxion Daily AMZN Bear 1X Shares in the fourth quarter valued at $64,000. Jane Street Group LLC acquired a new stake in shares of Direxion Daily AMZN Bear 1X Shares during the fourth quarter worth about $243,000. Finally, Jump Financial LLC purchased a new stake in shares of Direxion Daily AMZN Bear 1X Shares in the 4th quarter valued at about $618,000.

Direxion Daily AMZN Bear 1X Shares Company Profile

The Direxion Daily AMZN Bear 1X Shares ETF (AMZD) is an exchange-traded fund that is based on the Amazon.com, Inc index. The fund provides inverse (-1x) exposure, less fees and expenses, to the daily price movement for shares of Amazon stock. AMZD was launched on Sep 7, 2022 and is managed by Direxion.