Direxion Daily Magnificent 7 Bear 1X ETF (QQQD)
Direxion Daily Magnificent 7 Bear 1X ETF operates in the Asset Management - Leveraged industry of the Financial Services sector, headquartered in New York City, NY, US. The stock last traded at $12.54, up 1.01% on the session, giving a market capitalisation of $14.5M. Its beta of -1.38 implies it has historically moved less than the broad market.
These Direxion exchange-traded funds, known as the Daily Magnificent 7 Bull 2X and Bear 1X ETFs, are structured to deliver daily investment outcomes. Specifically, before any fees or expenses are factored in, they endeavor to provide returns equal to either two times (200%) the daily movement of the Indxx Magnificent 7 Index, or the exact inverse (100% opposite) of that index's daily performance. It is crucial to understand that there is no assurance these funds will successfully achieve their intended daily investment targets.
Direxion Daily Magnificent 7 Bear 1X ETF is most often compared with the following Financial Services names: