Direxion Daily MSFT Bear 1X Shares (NASDAQ:MSFD) Short Interest Down 82.7% in August

Direxion Daily MSFT Bear 1X Shares (NASDAQ:MSFD) was the target of a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 3,800 shares, a drop of 82.7% from the August 15th total of 22,000 shares. Based on an average trading volume of 97,800 shares, the days-to-cover ratio is presently 0.0 days.

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

A hedge fund recently raised its stake in Direxion Daily MSFT Bear 1X Shares stock. IMC Chicago LLC raised its stake in shares of Direxion Daily MSFT Bear 1X Shares (NASDAQ:MSFD) by 174.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,953 shares of the company’s stock after buying an additional 24,133 shares during the quarter. IMC Chicago LLC owned about 8.08% of Direxion Daily MSFT Bear 1X Shares worth $591,000 at the end of the most recent quarter.

Direxion Daily MSFT Bear 1X Shares Price Performance

Shares of MSFD stock traded down $0.13 during trading hours on Thursday, reaching $13.71. The company’s stock had a trading volume of 93,879 shares, compared to its average volume of 94,035. Direxion Daily MSFT Bear 1X Shares has a one year low of $12.43 and a one year high of $18.93. The firm’s fifty day simple moving average is $13.76 and its 200 day simple moving average is $13.89.

Direxion Daily MSFT Bear 1X Shares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 2nd. Stockholders of record on Tuesday, June 25th were given a $0.2229 dividend. The ex-dividend date of this dividend was Tuesday, June 25th. This represents a $0.89 dividend on an annualized basis and a dividend yield of 6.50%.

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.