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

Direxion Daily META Bear 1X Shares (NASDAQ:METD) was the recipient of a significant growth in short interest during the month of December. As of December 31st, there was short interest totaling 32,892 shares, a growth of 339.4% from the December 15th total of 7,486 shares. Currently, 8.7% of the company’s stock are short sold. Based on an average daily trading volume, of 186,098 shares, the days-to-cover ratio is presently 0.2 days. Based on an average daily trading volume, of 186,098 shares, the days-to-cover ratio is presently 0.2 days. Currently, 8.7% of the company’s stock are short sold.

Direxion Daily META Bear 1X Shares Stock Up 2.8%

Direxion Daily META Bear 1X Shares stock traded up $0.46 during midday trading on Tuesday, reaching $16.76. The company’s stock had a trading volume of 118,116 shares, compared to its average volume of 205,277. The business has a 50-day simple moving average of $16.40 and a 200-day simple moving average of $15.23. Direxion Daily META Bear 1X Shares has a fifty-two week low of $13.45 and a fifty-two week high of $23.35.

Direxion Daily META Bear 1X Shares Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 23rd were given a dividend of $0.133 per share. This represents a $0.53 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Tuesday, December 23rd.

Hedge Funds Weigh In On Direxion Daily META Bear 1X Shares

A hedge fund recently bought a new stake in Direxion Daily META Bear 1X Shares stock. Flow Traders U.S. LLC purchased a new stake in Direxion Daily META Bear 1X Shares (NASDAQ:METD) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 12,230 shares of the company’s stock, valued at approximately $179,000. Flow Traders U.S. LLC owned about 2.45% of Direxion Daily META Bear 1X Shares as of its most recent SEC filing.

About Direxion Daily META Bear 1X Shares

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.