Direxion Daily MSFT Bear 1X Shares (NASDAQ:MSFD) Short Interest Down 44.2% in March

Direxion Daily MSFT Bear 1X Shares (NASDAQ:MSFD) was the recipient of a large drop in short interest during the month of March. As of March 15th, there was short interest totalling 37,000 shares, a drop of 44.2% from the February 28th total of 66,300 shares. Based on an average trading volume of 83,600 shares, the days-to-cover ratio is presently 0.4 days. Approximately 11.6% of the shares of the company are sold short.

Direxion Daily MSFT Bear 1X Shares Stock Up 3.0 %

Shares of MSFD traded up $0.44 during mid-day trading on Friday, hitting $15.09. 58,465 shares of the company traded hands, compared to its average volume of 95,506. The stock has a 50-day moving average price of $14.23 and a two-hundred day moving average price of $13.87. Direxion Daily MSFT Bear 1X Shares has a 1 year low of $12.43 and a 1 year high of $15.25.

Direxion Daily MSFT Bear 1X Shares Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 25th will be paid a $0.106 dividend. The ex-dividend date of this dividend is Tuesday, March 25th. This represents a $0.42 annualized dividend and a dividend yield of 2.81%.

Hedge Funds Weigh In On Direxion Daily MSFT Bear 1X Shares

A number of institutional investors have recently bought and sold shares of the stock. PayPay Securities Corp bought a new position in shares of Direxion Daily MSFT Bear 1X Shares in the fourth quarter worth about $64,000. Jane Street Group LLC purchased a new stake in Direxion Daily MSFT Bear 1X Shares in the 3rd quarter worth approximately $179,000. Jump Financial LLC purchased a new position in Direxion Daily MSFT Bear 1X Shares during the fourth quarter valued at approximately $341,000. Finally, Virtu Financial LLC purchased a new position in Direxion Daily MSFT Bear 1X Shares during the fourth quarter valued at approximately $763,000.

Direxion Daily MSFT Bear 1X Shares 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.