Direxion Daily MSFT Bull 2X Shares (NASDAQ:MSFU) Stock Price Down 4.2% – Here’s Why

Shares of Direxion Daily MSFT Bull 2X Shares (NASDAQ:MSFU) dropped 4.2% during mid-day trading on Thursday . The company traded as low as $24.47 and last traded at $24.56. Approximately 2,207,937 shares changed hands during trading, a decline of 60% from the average daily volume of 5,472,336 shares. The stock had previously closed at $25.64.

Direxion Daily MSFT Bull 2X Shares Stock Up 0.3%

The business has a 50-day moving average price of $28.00 and a 200-day moving average price of $32.11. The firm has a market capitalization of $735.67 million, a price-to-earnings ratio of 42.77 and a beta of 1.91.

Direxion Daily MSFT Bull 2X Shares Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 24th were given a dividend of $0.1301 per share. The ex-dividend date of this dividend was Tuesday, March 24th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.1%.

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

Large investors have recently made changes to their positions in the business. Renaissance Technologies LLC acquired a new position in shares of Direxion Daily MSFT Bull 2X Shares during the first quarter worth $927,000. Parallel Advisors LLC increased its position in shares of Direxion Daily MSFT Bull 2X Shares by 167.4% during the fourth quarter. Parallel Advisors LLC now owns 1,725 shares of the company’s stock worth $72,000 after purchasing an additional 1,080 shares in the last quarter. Group One Trading LLC increased its position in shares of Direxion Daily MSFT Bull 2X Shares by 14.6% during the fourth quarter. Group One Trading LLC now owns 3,011 shares of the company’s stock worth $125,000 after purchasing an additional 384 shares in the last quarter. Flow Traders U.S. LLC acquired a new position in shares of Direxion Daily MSFT Bull 2X Shares during the second quarter worth $207,000. Finally, StoneX Group Inc. acquired a new position in shares of Direxion Daily MSFT Bull 2X Shares during the fourth quarter worth $207,000.

Direxion Daily MSFT Bull 2X Shares Company Profile

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.