Direxion Daily META Bear 1X Shares (NASDAQ:METD) Sees Significant Increase in Short Interest

Direxion Daily META Bear 1X Shares (NASDAQ:METD) saw a large growth in short interest in May. As of May 29th, there was short interest totaling 14,176 shares, a growth of 76.7% from the May 14th total of 8,023 shares. Currently, 3.3% of the shares of the company are short sold. Based on an average trading volume of 134,818 shares, the days-to-cover ratio is presently 0.1 days.

Direxion Daily META Bear 1X Shares Trading Down 5.1%

METD traded down $0.90 during trading on Monday, reaching $16.72. 318,082 shares of the company traded hands, compared to its average volume of 403,539. Direxion Daily META Bear 1X Shares has a 12-month low of $13.45 and a 12-month high of $19.54. The firm has a fifty day simple moving average of $16.22 and a 200 day simple moving average of $16.19.

Direxion Daily META Bear 1X Shares Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 24th were given a $0.0691 dividend. The ex-dividend date was Tuesday, March 24th. This represents a $0.28 dividend on an annualized basis and a yield of 1.7%.

Institutional Trading of Direxion Daily META Bear 1X Shares

A number of institutional investors have recently bought and sold shares of METD. IMC Chicago LLC bought a new stake in shares of Direxion Daily META Bear 1X Shares in the fourth quarter valued at about $1,037,000. Genesis Financial Group LLC bought a new stake in shares of Direxion Daily META Bear 1X Shares in the fourth quarter valued at about $720,000. Optiver Holding B.V. raised its holdings in shares of Direxion Daily META Bear 1X Shares by 21.1% in the third quarter. Optiver Holding B.V. now owns 15,363 shares of the company’s stock valued at $223,000 after acquiring an additional 2,681 shares in the last quarter. Finally, Flow Traders U.S. LLC bought a new stake in shares of Direxion Daily META Bear 1X Shares in the second quarter valued at about $179,000.

About Direxion Daily META Bear 1X Shares

The Direxion Daily META Bear 1X Shares (METD) is an exchange-traded fund that is based on the Meta Platforms Inc Class A index. The fund provides inverse (-1x) exposure, less fees and expenses, to the daily price movement for shares of META stock. METD was launched on Jun 5, 2024 and is issued by Direxion.