Short Interest in Direxion Daily AAPL Bear 1X Shares (NASDAQ:AAPD) Expands By 105.9%

Direxion Daily AAPL Bear 1X Shares (NASDAQ:AAPD) was the target of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 129,300 shares, an increase of 105.9% from the February 28th total of 62,800 shares. Based on an average trading volume of 1,097,200 shares, the days-to-cover ratio is presently 0.1 days. Currently, 8.9% of the company’s shares are sold short.

Direxion Daily AAPL Bear 1X Shares Stock Down 1.1 %

Shares of Direxion Daily AAPL Bear 1X Shares stock opened at $16.92 on Friday. Direxion Daily AAPL Bear 1X Shares has a one year low of $14.70 and a one year high of $23.72. The business’s 50 day simple moving average is $16.55 and its two-hundred day simple moving average is $16.46.

Direxion Daily AAPL Bear 1X Shares Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 25th will be paid a $0.1176 dividend. This represents a $0.47 annualized dividend and a dividend yield of 2.78%. The ex-dividend date of this dividend is Tuesday, March 25th.

Institutional Investors Weigh In On Direxion Daily AAPL Bear 1X Shares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AAPD. Advisory Services Network LLC purchased a new position in shares of Direxion Daily AAPL Bear 1X Shares in the fourth quarter valued at about $1,077,000. Virtu Financial LLC grew its stake in shares of Direxion Daily AAPL Bear 1X Shares by 114.8% in the fourth quarter. Virtu Financial LLC now owns 36,527 shares of the company’s stock worth $557,000 after purchasing an additional 19,519 shares during the last quarter. Optiver Holding B.V. bought a new stake in shares of Direxion Daily AAPL Bear 1X Shares in the fourth quarter worth about $355,000. Flow Traders U.S. LLC purchased a new position in Direxion Daily AAPL Bear 1X Shares during the 3rd quarter valued at about $295,000. Finally, Rossby Financial LCC bought a new position in Direxion Daily AAPL Bear 1X Shares during the 4th quarter valued at approximately $191,000.

Direxion Daily AAPL Bear 1X Shares Company Profile

The Direxion Daily AAPL Bear 1X Shares ETF (AAPD) is an exchange-traded fund that is based on the Apple Inc index. The fund provides inverse (-1x) exposure, less fees and expenses, to the daily price movement for shares of Apple stock. AAPD was launched on Aug 9, 2022 and is managed by Direxion.