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

Direxion Daily MSFT Bull 2X Shares (NASDAQ:MSFU) traded down 4.4% on Wednesday . The company traded as low as $24.00 and last traded at $24.02. 1,612,393 shares changed 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 Trading Down 4.1%

The business has a fifty day moving average of $28.08 and a two-hundred day moving average of $31.77. The company has a market cap of $715.77 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 announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 24th were issued a dividend of $0.1301 per share. The ex-dividend date of this dividend was Tuesday, March 24th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.2%.

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

Hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC acquired a new position in shares of Direxion Daily MSFT Bull 2X Shares during the first quarter valued at approximately $927,000. Parallel Advisors LLC raised its holdings in shares of Direxion Daily MSFT Bull 2X Shares by 167.4% during the fourth quarter. Parallel Advisors LLC now owns 1,725 shares of the company’s stock valued at $72,000 after acquiring an additional 1,080 shares during the last quarter. Group One Trading LLC raised its holdings in shares of Direxion Daily MSFT Bull 2X Shares by 14.6% during the fourth quarter. Group One Trading LLC now owns 3,011 shares of the company’s stock valued at $125,000 after acquiring an additional 384 shares during the last quarter. StoneX Group Inc. acquired a new position in shares of Direxion Daily MSFT Bull 2X Shares during the fourth quarter valued at approximately $207,000. Finally, Two Sigma Securities LLC acquired a new position in shares of Direxion Daily MSFT Bull 2X Shares during the second quarter valued at approximately $634,000.

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.