Direxion Daily META Bear 1X Shares (NASDAQ:METD) Sees Significant Increase in Short Interest

Direxion Daily META Bear 1X Shares (NASDAQ:METD – Get Free Report) saw a large increase in short interest in the month of May. As of May 29th, there was short interest totaling 14,176 shares, an increase of 76.7% from the May 14th total of 8,023 shares. Based on an average daily trading volume, of 134,818 shares, the days-to-cover ratio is currently 0.1 days. Approximately 3.3% of the shares of the company are short sold.

Direxion Daily META Bear 1X Shares Price Performance

NASDAQ:METD traded down $0.90 during midday trading on Monday, hitting $16.72. The company’s stock had a trading volume of 318,082 shares, compared to its average volume of 403,539. Direxion Daily META Bear 1X Shares has a fifty-two week low of $13.45 and a fifty-two week high of $19.54. The firm’s 50 day moving average is $16.22 and its 200-day moving average is $16.19.

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Direxion Daily META Bear 1X Shares Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 24th were given a $0.0691 dividend. This represents a $0.28 annualized dividend and a yield of 1.7%. The ex-dividend date was Tuesday, March 24th.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. IMC Chicago LLC raised its stake in shares of Direxion Daily META Bear 1X Shares by 60.8% during the 1st quarter. IMC Chicago LLC now owns 105,235 shares of the company’s stock worth $1,865,000 after buying an additional 39,785 shares during the period. Genesis Financial Group LLC raised its stake in shares of Direxion Daily META Bear 1X Shares by 13.2% during the 1st quarter. Genesis Financial Group LLC now owns 51,400 shares of the company’s stock worth $911,000 after buying an additional 6,000 shares during the period. Optiver Holding B.V. raised its stake in shares of Direxion Daily META Bear 1X Shares by 58.2% during the 1st quarter. Optiver Holding B.V. now owns 21,191 shares of the company’s stock worth $376,000 after buying an additional 7,800 shares during the period. Finally, Flow Traders U.S. LLC acquired a new position in shares of Direxion Daily META Bear 1X Shares during the 2nd quarter worth approximately $179,000.

About Direxion Daily META Bear 1X Shares

(Get Free Report)

The Direxion Daily META Bear 1X Shares (METD) is an exchange-traded fund that is based on the Meta Platforms Inc Class A index. The fund provides inverse (-1x) exposure, less fees and expenses, to the daily price movement for shares of META stock. METD was launched on Jun 5, 2024 and is issued by Direxion.

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