Direxion Daily MSFT Bull 2X Shares (NASDAQ:MSFU) Trading Down 4.4% – Here’s What Happened

Direxion Daily MSFT Bull 2X Shares (NASDAQ:MSFU) traded down 4.4% during trading on Wednesday . The company traded as low as $24.00 and last traded at $24.02. 1,612,393 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 5,519,441 shares. The stock had previously closed at $25.13.

Direxion Daily MSFT Bull 2X Shares Stock Performance

The firm has a 50-day simple moving average of $28.08 and a two-hundred day simple moving average of $31.46. The company has a market capitalization of $689.34 million, a price-to-earnings ratio of 42.77 and a beta of 1.91.

Direxion Daily MSFT Bull 2X Shares Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 24th were paid a $0.1301 dividend. The ex-dividend date of this dividend was Tuesday, March 24th. This represents a $0.52 annualized dividend and a dividend yield of 2.2%.

Hedge Funds Weigh In On Direxion Daily MSFT Bull 2X Shares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SOA Wealth Advisors LLC. lifted its stake in Direxion Daily MSFT Bull 2X Shares by 147.3% in the first quarter. SOA Wealth Advisors LLC. now owns 1,679 shares of the company’s stock valued at $39,000 after acquiring an additional 1,000 shares during the last quarter. Parallel Advisors LLC raised its holdings in shares of Direxion Daily MSFT Bull 2X Shares by 167.4% during the 4th quarter. Parallel Advisors LLC now owns 1,725 shares of the company’s stock valued at $72,000 after purchasing an additional 1,080 shares in the last quarter. Group One Trading LLC lifted its stake in shares of Direxion Daily MSFT Bull 2X Shares by 14.6% in the 4th quarter. Group One Trading LLC now owns 3,011 shares of the company’s stock valued at $125,000 after purchasing an additional 384 shares during the last quarter. Safe Harbor Fiduciary LLC acquired a new stake in shares of Direxion Daily MSFT Bull 2X Shares in the 4th quarter valued at $132,000. Finally, StoneX Group Inc. acquired a new stake in shares of Direxion Daily MSFT Bull 2X Shares in the 4th quarter valued at $207,000.

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.