Short Interest in Direxion Daily MSFT Bear 1X Shares (NASDAQ:MSFD) Drops By 49.1%

Direxion Daily MSFT Bear 1X Shares (NASDAQ:MSFD) was the target of a large decline in short interest in the month of May. As of May 15th, there was short interest totaling 23,917 shares, a decline of 49.1% from the April 30th total of 47,009 shares. Based on an average trading volume of 2,617,837 shares, the short-interest ratio is presently 0.0 days. Currently, 0.8% of the company’s shares are short sold.

Direxion Daily MSFT Bear 1X Shares Stock Down 2.4%

Shares of NASDAQ MSFD traded down $0.29 during trading on Monday, hitting $11.75. 3,277,657 shares of the company were exchanged, compared to its average volume of 1,658,647. Direxion Daily MSFT Bear 1X Shares has a 12-month low of $10.06 and a 12-month high of $15.33. The company has a fifty day moving average price of $13.61 and a 200-day moving average price of $12.81.

Direxion Daily MSFT Bear 1X Shares Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 24th were given a dividend of $0.0805 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Tuesday, March 24th.

Institutional Trading of Direxion Daily MSFT Bear 1X Shares

A number of hedge funds and other institutional investors have recently modified their holdings of MSFD. Flow Traders U.S. LLC acquired a new stake in shares of Direxion Daily MSFT Bear 1X Shares during the 2nd quarter worth about $117,000. Advisory Services Network LLC acquired a new stake in shares of Direxion Daily MSFT Bear 1X Shares during the 2nd quarter worth about $697,000. IMC Chicago LLC acquired a new stake in shares of Direxion Daily MSFT Bear 1X Shares during the 3rd quarter worth about $1,372,000. SBI Securities Co. Ltd. increased its position in shares of Direxion Daily MSFT Bear 1X Shares by 323.0% during the 3rd quarter. SBI Securities Co. Ltd. now owns 7,131 shares of the company’s stock worth $77,000 after purchasing an additional 5,445 shares during the last quarter. Finally, Cibc World Market Inc. increased its position in shares of Direxion Daily MSFT Bear 1X Shares by 49.6% during the 3rd quarter. Cibc World Market Inc. now owns 79,521 shares of the company’s stock worth $858,000 after purchasing an additional 26,362 shares during the last quarter.

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.