Direxion Daily AMZN Bear 1X Shares (NASDAQ:AMZD) Trading Up 1.9% – Should You Buy?

Direxion Daily AMZN Bear 1X Shares (NASDAQ:AMZD)’s stock price were up 1.9% during trading on Wednesday . The stock traded as high as $10.92 and last traded at $10.85. Approximately 983,779 shares changed hands during trading, an increase of 183% from the average daily volume of 348,007 shares. The stock had previously closed at $10.65.

Direxion Daily AMZN Bear 1X Shares Stock Performance

The business’s 50 day moving average price is $10.57 and its 200-day moving average price is $11.35.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. PayPay Securities Corp increased its stake in Direxion Daily AMZN Bear 1X Shares by 96.1% during the 3rd quarter. PayPay Securities Corp now owns 3,790 shares of the company’s stock worth $41,000 after buying an additional 1,857 shares during the period. Flow Traders U.S. LLC purchased a new stake in shares of Direxion Daily AMZN Bear 1X Shares during the second quarter worth about $119,000. Tower Research Capital LLC TRC purchased a new stake in shares of Direxion Daily AMZN Bear 1X Shares during the second quarter worth about $164,000. Advisory Services Network LLC purchased a new stake in shares of Direxion Daily AMZN Bear 1X Shares during the second quarter worth about $747,000. Finally, Jane Street Group LLC purchased a new stake in shares of Direxion Daily AMZN Bear 1X Shares during the second quarter worth about $1,029,000.

About Direxion Daily AMZN Bear 1X Shares

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.