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

Direxion Daily META Bear 1X Shares (NASDAQ:METD) saw a significant drop in short interest in the month of July. As of July 31st, there was short interest totaling 25,577 shares, a drop of 66.9% from the July 15th total of 77,379 shares. Currently, 4.9% of the shares of the stock are sold short. Based on an average trading volume of 679,794 shares, the days-to-cover ratio is currently 0.0 days.

Direxion Daily META Bear 1X Shares Stock Up 0.9%

METD stock opened at $16.25 on Friday. The business has a fifty day moving average price of $16.42 and a 200 day moving average price of $16.23. Direxion Daily META Bear 1X Shares has a fifty-two week low of $13.45 and a fifty-two week high of $19.54.

Direxion Daily META Bear 1X Shares Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd were given a dividend of $0.0977 per share. The ex-dividend date was Tuesday, June 23rd. This represents a $0.39 dividend on an annualized basis and a yield of 2.4%.

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

Several hedge funds have recently added to or reduced their stakes in the stock. IMC Chicago LLC bought a new stake in Direxion Daily META Bear 1X Shares in the fourth quarter valued at approximately $1,037,000. Flow Traders U.S. LLC acquired a new position in shares of Direxion Daily META Bear 1X Shares in the second quarter valued at approximately $179,000. Optiver Holding B.V. lifted its position in Direxion Daily META Bear 1X Shares by 58.2% in the 1st quarter. Optiver Holding B.V. now owns 21,191 shares of the company’s stock valued at $376,000 after acquiring an additional 7,800 shares in the last quarter. Finally, Genesis Financial Group LLC raised its stake in shares of Direxion Daily META Bear 1X Shares by 13.2% in the 1st quarter. Genesis Financial Group LLC now owns 51,400 shares of the company’s stock valued at $911,000 after purchasing an additional 6,000 shares during the period.

Direxion Daily META Bear 1X Shares Company Profile

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.