Direxion Daily MSFT Bull 2X Shares (NASDAQ:MSFU) Sees Unusually-High Trading Volume – Time to Buy?

Direxion Daily MSFT Bull 2X Shares (NASDAQ:MSFU) saw unusually-high trading volume on Tuesday . Approximately 3,413,888 shares changed hands during trading, a decline of 42% from the previous session’s volume of 5,908,364 shares.The stock last traded at $23.17 and had previously closed at $24.17.

Direxion Daily MSFT Bull 2X Shares Price Performance

The stock has a market capitalization of $896.62 million, a P/E ratio of 42.77 and a beta of 2.03. The stock has a fifty day moving average price of $26.36 and a 200 day moving average price of $29.06.

Direxion Daily MSFT Bull 2X Shares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd were paid a $0.1438 dividend. The ex-dividend date was Tuesday, June 23rd. This represents a $0.58 annualized dividend and a yield of 2.5%.

Institutional Investors Weigh In On Direxion Daily MSFT Bull 2X Shares

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Jane Street Group LLC lifted its holdings in shares of Direxion Daily MSFT Bull 2X Shares by 31.9% in the second quarter. Jane Street Group LLC now owns 41,129 shares of the company’s stock worth $2,043,000 after buying an additional 9,945 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Direxion Daily MSFT Bull 2X Shares during the first quarter valued at approximately $927,000. Virtu Financial LLC bought a new stake in Direxion Daily MSFT Bull 2X Shares during the 4th quarter worth approximately $819,000. Harvest Fund Management Co. Ltd bought a new stake in Direxion Daily MSFT Bull 2X Shares during the 3rd quarter worth approximately $717,000. Finally, Group One Trading LLC lifted its stake in Direxion Daily MSFT Bull 2X Shares by 353.5% in the 1st quarter. Group One Trading LLC now owns 13,656 shares of the company’s stock worth $314,000 after purchasing an additional 10,645 shares in the last quarter.

Direxion Daily MSFT Bull 2X Shares Company Profile

The Direxion Daily MSFT Bull 1.5X Shares ETF (MSFU) is an exchange-traded fund that is based on the Microsoft Corporation index. The fund provides 1.5x leveraged exposure, less fees and expenses, to the daily price movement for shares of Microsoft stock. MSFU was launched on Sep 7, 2022 and is managed by Direxion.