Direxion Daily META Bear 1X ETF (NASDAQ:METD) Sees Large Decline in Short Interest

Direxion Daily META Bear 1X ETF (NASDAQ:METD) was the target of a significant decrease in short interest during the month of September. As of September 30th, there was short interest totaling 19,763 shares, a decrease of 82.7% from the September 15th total of 114,228 shares. Currently, 1.8% of the company’s shares are sold short. Based on an average trading volume of 1,435,871 shares, the short-interest ratio is currently 0.0 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in METD. Optiver Holding B.V. raised its position in shares of Direxion Daily META Bear 1X ETF by 58.2% during the first quarter. Optiver Holding B.V. now owns 21,191 shares of the company’s stock worth $376,000 after purchasing an additional 7,800 shares during the period. Genesis Financial Group LLC lifted its holdings in shares of Direxion Daily META Bear 1X ETF by 13.2% in the first quarter. Genesis Financial Group LLC now owns 51,400 shares of the company’s stock valued at $911,000 after purchasing an additional 6,000 shares in the last quarter. Finally, IMC Chicago LLC boosted its position in shares of Direxion Daily META Bear 1X ETF by 60.8% during the first quarter. IMC Chicago LLC now owns 105,235 shares of the company’s stock valued at $1,865,000 after buying an additional 39,785 shares during the last quarter.

Direxion Daily META Bear 1X ETF Stock Performance

METD traded up $0.06 during trading on Friday, reaching $12.95. 653,035 shares of the stock traded hands, compared to its average volume of 540,728. The stock’s 50-day moving average is $15.00 and its 200 day moving average is $15.92. Direxion Daily META Bear 1X ETF has a 12 month low of $11.98 and a 12 month high of $19.54.

About Direxion Daily META Bear 1X ETF

The Direxion Daily META Bear 1X Shares (METD) is an exchange-traded fund that is based on the Meta Platforms Inc Class A index. The fund provides inverse (-1x) exposure, less fees and expenses, to the daily price movement for shares of META stock. METD was launched on Jun 5, 2024 and is issued by Direxion.