Direxion Daily MSFT Bull 2X Shares (NASDAQ:MSFU) Shares Down 4.2% – Time to Sell?

Direxion Daily MSFT Bull 2X Shares (NASDAQ:MSFU)’s share price were down 4.2% during mid-day trading on Thursday . The stock traded as low as $24.47 and last traded at $24.56. Approximately 2,207,937 shares changed hands during mid-day 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 Down 4.8%

The company has a 50 day moving average price of $27.92 and a 200-day moving average price of $32.29. The company has a market cap of $724.68 million, a price-to-earnings ratio of 42.77 and a beta of 1.91.

Direxion Daily MSFT Bull 2X Shares Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 24th were issued a $0.1301 dividend. The ex-dividend date was Tuesday, March 24th. This represents a $0.52 annualized dividend and a yield of 2.1%.

Institutional Trading of Direxion Daily MSFT Bull 2X Shares

Several institutional investors have recently added to or reduced their stakes in MSFU. Jane Street Group LLC bought a new stake in Direxion Daily MSFT Bull 2X Shares in the first quarter valued at approximately $930,000. Flow Traders U.S. LLC bought a new stake in Direxion Daily MSFT Bull 2X Shares in the second quarter valued at approximately $207,000. Two Sigma Securities LLC bought a new stake in Direxion Daily MSFT Bull 2X Shares in the second quarter valued at approximately $634,000. Group One Trading LLC bought a new stake in Direxion Daily MSFT Bull 2X Shares in the third quarter valued at approximately $137,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in Direxion Daily MSFT Bull 2X Shares in the third quarter valued at approximately $717,000.

About Direxion Daily MSFT Bull 2X Shares

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.