Direxion Daily META Bear 1X Shares (NASDAQ:METD) Shares Down 1.7% – Should You Sell?

Shares of Direxion Daily META Bear 1X Shares (NASDAQ:METD) were down 1.7% on Monday . The stock traded as low as $16.93 and last traded at $17.05. Approximately 215,949 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 501,266 shares. The stock had previously closed at $17.35.

Direxion Daily META Bear 1X Shares Trading Down 0.3%

The company’s 50 day moving average is $16.01 and its 200-day moving average is $15.74.

Direxion Daily META Bear 1X Shares Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 24th will be paid a dividend of $0.0691 per share. The ex-dividend date is Tuesday, March 24th. This represents a $0.28 annualized dividend and a dividend yield of 1.6%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of METD. Flow Traders U.S. LLC purchased a new position in Direxion Daily META Bear 1X Shares in the second quarter valued at about $179,000. Optiver Holding B.V. raised its position in shares of Direxion Daily META Bear 1X Shares by 21.1% in the 3rd quarter. Optiver Holding B.V. now owns 15,363 shares of the company’s stock valued at $223,000 after purchasing an additional 2,681 shares in the last quarter. Genesis Financial Group LLC purchased a new position in shares of Direxion Daily META Bear 1X Shares during the 4th quarter valued at approximately $720,000. Finally, IMC Chicago LLC purchased a new position in shares of Direxion Daily META Bear 1X Shares during the 4th quarter valued at approximately $1,037,000.

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.