Direxion Daily MSFT Bear 1X ETF (NASDAQ:MSFD) Stock Breaks Above 50-Day Moving Average – Time to Sell?

Direxion Daily MSFT Bear 1X ETF (NASDAQ:MSFD)’s share price crossed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $10.01 and traded as high as $10.14. Direxion Daily MSFT Bear 1X ETF shares last traded at $10.10, with a volume of 2,467,573 shares trading hands.

Direxion Daily MSFT Bear 1X ETF Stock Up 2.9%

The stock’s fifty day moving average is $10.01 and its two-hundred day moving average is $12.37.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. IMC Chicago LLC increased its holdings in shares of Direxion Daily MSFT Bear 1X ETF by 28.5% in the first quarter. IMC Chicago LLC now owns 113,506 shares of the company’s stock worth $1,673,000 after purchasing an additional 25,146 shares during the period. Citadel Advisors LLC bought a new position in shares of Direxion Daily MSFT Bear 1X ETF in the 2nd quarter worth $466,000. PayPay Securities Corp raised its position in Direxion Daily MSFT Bear 1X ETF by 47.5% during the third quarter. PayPay Securities Corp now owns 3,798 shares of the company’s stock valued at $38,000 after purchasing an additional 1,223 shares in the last quarter. Finally, Geneos Wealth Management Inc. bought a new stake in Direxion Daily MSFT Bear 1X ETF in the 1st quarter worth approximately $53,000.

Direxion Daily MSFT Bear 1X ETF Company Profile

The Direxion Daily MSFT Bear 1X Shares ETF (MSFD) is an exchange-traded fund that is based on the Microsoft Corporation index. The fund provides inverse (-1x) exposure, less fees and expenses, to the daily price movement for shares of Microsoft stock. MSFD was launched on Sep 7, 2022 and is managed by Direxion.