Short Interest in Direxion Daily MSFT Bear 1X Shares (NASDAQ:MSFD) Drops By 54.5%

Direxion Daily MSFT Bear 1X Shares (NASDAQ:MSFD) was the recipient of a significant decrease in short interest in the month of July. As of July 15th, there was short interest totaling 42,375 shares, a decrease of 54.5% from the June 30th total of 93,100 shares. Currently, 5.7% of the shares of the stock are sold short. Based on an average daily volume of 829,569 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Investors Weigh In On Direxion Daily MSFT Bear 1X Shares

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Wakefield Asset Management LLLP purchased a new position in Direxion Daily MSFT Bear 1X Shares in the 4th quarter worth approximately $986,000. Advisory Services Network LLC bought a new position in shares of Direxion Daily MSFT Bear 1X Shares during the second quarter valued at about $697,000. Susquehanna International Group LLP purchased a new stake in shares of Direxion Daily MSFT Bear 1X Shares during the third quarter worth about $308,000. Citadel Advisors LLC boosted its stake in shares of Direxion Daily MSFT Bear 1X Shares by 207.9% during the 3rd quarter. Citadel Advisors LLC now owns 40,754 shares of the company’s stock valued at $440,000 after purchasing an additional 27,520 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Direxion Daily MSFT Bear 1X Shares in the 3rd quarter worth approximately $292,000.

Direxion Daily MSFT Bear 1X Shares Trading Down 15.4%

Direxion Daily MSFT Bear 1X Shares stock traded down $2.08 during mid-day trading on Thursday, hitting $11.45. 2,333,244 shares of the company traded hands, compared to its average volume of 1,482,268. The stock has a fifty day moving average price of $13.52 and a 200-day moving average price of $13.45. Direxion Daily MSFT Bear 1X Shares has a one year low of $10.06 and a one year high of $15.33.

Direxion Daily MSFT Bear 1X Shares Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd were issued a dividend of $0.1783 per share. This represents a $0.71 dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date of this dividend was Tuesday, June 23rd.

About Direxion Daily MSFT Bear 1X Shares

The Direxion Daily MSFT Bear 1X Shares ETF (MSFD) is an exchange-traded fund that is based on the Microsoft Corporation index. The fund provides inverse (-1x) exposure, less fees and expenses, to the daily price movement for shares of Microsoft stock. MSFD was launched on Sep 7, 2022 and is managed by Direxion.