Direxion Daily MSFT Bull 2X ETF (NASDAQ:MSFU) Share Price Crosses Below 50 Day Moving Average – What’s Next?

Direxion Daily MSFT Bull 2X ETF (NASDAQ:MSFU) shares crossed below its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $40.11 and traded as low as $39.29. Direxion Daily MSFT Bull 2X ETF shares last traded at $39.65, with a volume of 2,227,460 shares trading hands.

Direxion Daily MSFT Bull 2X ETF Stock Performance

The firm has a fifty day moving average price of $40.11 and a two-hundred day moving average price of $31.37. The stock has a market capitalization of $324.34 million, a P/E ratio of 42.77 and a beta of 1.88.

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

Several institutional investors have recently made changes to their positions in MSFU. Renaissance Technologies LLC purchased a new position in shares of Direxion Daily MSFT Bull 2X ETF during the 1st quarter worth $927,000. Turner Financial Group Inc. purchased a new position in shares of Direxion Daily MSFT Bull 2X ETF during the second quarter valued at about $333,000. StoneX Group Inc. bought a new stake in Direxion Daily MSFT Bull 2X ETF in the third quarter worth $2,024,000. SOA Wealth Advisors LLC. boosted its holdings in shares of Direxion Daily MSFT Bull 2X ETF by 147.3% in the 1st quarter. SOA Wealth Advisors LLC. now owns 1,679 shares of the company’s stock worth $39,000 after purchasing an additional 1,000 shares during the period. Finally, Z3 Capital Partners LLC bought a new stake in shares of Direxion Daily MSFT Bull 2X ETF in the 3rd quarter worth about $233,000.

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.