Direxion Daily MSFT Bull 2X ETF (NASDAQ:MSFU) Stock Falls 4% – Time to Sell?

Direxion Daily MSFT Bull 2X ETF (NASDAQ:MSFU)’s share price traded down 4% during trading on Friday. The company traded as low as $40.84 and last traded at $41.56. Approximately 2,417,107 shares changed hands during mid-day trading, a decline of 55% from the average daily volume of 5,352,359 shares. The stock had previously closed at $43.27.

Direxion Daily MSFT Bull 2X ETF Price Performance

The stock has a market cap of $518.67 million, a PE ratio of 42.77 and a beta of 1.90. The business has a 50 day simple moving average of $38.64 and a 200 day simple moving average of $30.96.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC acquired a new position in shares of Direxion Daily MSFT Bull 2X ETF during the first quarter worth approximately $927,000. Virtu Financial LLC bought a new position in shares of Direxion Daily MSFT Bull 2X ETF during the fourth quarter valued at $819,000. Turner Financial Group Inc. acquired a new stake in shares of Direxion Daily MSFT Bull 2X ETF during the second quarter worth approximately $333,000. Group One Trading LLC increased its stake in shares of Direxion Daily MSFT Bull 2X ETF by 353.5% in the first quarter. Group One Trading LLC now owns 13,656 shares of the company’s stock valued at $314,000 after buying an additional 10,645 shares in the last quarter. Finally, Bullseye Investment Management LLC acquired a new position in shares of Direxion Daily MSFT Bull 2X ETF during the second quarter worth approximately $158,000.

About Direxion Daily MSFT Bull 2X ETF

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.