Direxion Daily GOOGL Bear 1X Shares (NASDAQ:GGLS) Trading Down 0.3% – Should You Sell?

Direxion Daily GOOGL Bear 1X Shares (NASDAQ:GGLS) dropped 0.3% during mid-day trading on Tuesday . The stock traded as low as $6.73 and last traded at $6.78. Approximately 6,957,217 shares were traded during trading, an increase of 622% from the average daily volume of 963,162 shares. The stock had previously closed at $6.80.

Direxion Daily GOOGL Bear 1X Shares Price Performance

The business’s 50 day simple moving average is $8.01 and its 200 day simple moving average is $10.24.

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

Several institutional investors and hedge funds have recently modified their holdings of GGLS. IMC Chicago LLC boosted its position in shares of Direxion Daily GOOGL Bear 1X Shares by 64.5% during the 3rd quarter. IMC Chicago LLC now owns 145,054 shares of the company’s stock worth $1,292,000 after acquiring an additional 56,890 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Direxion Daily GOOGL Bear 1X Shares during the third quarter worth $312,000. Optiver Holding B.V. increased its holdings in shares of Direxion Daily GOOGL Bear 1X Shares by 137.3% during the third quarter. Optiver Holding B.V. now owns 29,454 shares of the company’s stock worth $262,000 after buying an additional 17,042 shares in the last quarter. Flow Traders U.S. LLC increased its holdings in Direxion Daily GOOGL Bear 1X Shares by 48.0% in the 2nd quarter. Flow Traders U.S. LLC now owns 17,354 shares of the company’s stock worth $215,000 after purchasing an additional 5,627 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of Direxion Daily GOOGL Bear 1X Shares during the second quarter worth about $147,000.

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.