Direxion Daily AMZN Bear 1X Shares (NASDAQ:AMZD) Sees Large Decline in Short Interest

by · The Cerbat Gem

Direxion Daily AMZN Bear 1X Shares (NASDAQ:AMZD – Get Free Report) was the target of a significant drop in short interest in May. As of May 15th, there was short interest totaling 97,834 shares, a drop of 72.0% from the April 30th total of 349,937 shares. Based on an average daily trading volume, of 11,812,718 shares, the days-to-cover ratio is currently 0.0 days. Currently, 5.5% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AMZD. Geneos Wealth Management Inc. bought a new position in Direxion Daily AMZN Bear 1X Shares during the first quarter valued at about $35,000. PayPay Securities Corp boosted its stake in Direxion Daily AMZN Bear 1X Shares by 69.1% during the fourth quarter. PayPay Securities Corp now owns 6,408 shares of the company’s stock valued at $64,000 after buying an additional 2,618 shares in the last quarter. Flow Traders U.S. LLC bought a new position in Direxion Daily AMZN Bear 1X Shares during the second quarter valued at about $119,000. Jane Street Group LLC bought a new position in Direxion Daily AMZN Bear 1X Shares during the fourth quarter valued at about $153,000. Finally, Tower Research Capital LLC TRC bought a new position in Direxion Daily AMZN Bear 1X Shares during the second quarter valued at about $164,000.

Direxion Daily AMZN Bear 1X Shares Trading Up 1.2%

AMZD stock traded up $0.10 during trading hours on Friday, hitting $8.43. 14,397,126 shares of the stock traded hands, compared to its average volume of 10,440,609. The stock has a 50-day simple moving average of $9.43 and a 200 day simple moving average of $10.01. Direxion Daily AMZN Bear 1X Shares has a one year low of $8.19 and a one year high of $11.92.

Direxion Daily AMZN Bear 1X Shares Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 24th were paid a dividend of $0.0541 per share. The ex-dividend date of this dividend was Tuesday, March 24th. This represents a $0.22 annualized dividend and a yield of 2.6%.

About Direxion Daily AMZN Bear 1X Shares

(Get Free Report)

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.

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