Direxion Daily MSFT Bear 1X Shares (NASDAQ:MSFD) Trading Down 0.5% – Should You Sell?

Shares of Direxion Daily MSFT Bear 1X Shares (NASDAQ:MSFD) dropped 0.5% during mid-day trading on Wednesday . The company traded as low as $10.66 and last traded at $10.76. Approximately 167,072 shares were traded during mid-day trading, a decline of 8% from the average daily volume of 181,933 shares. The stock had previously closed at $10.81.

Direxion Daily MSFT Bear 1X Shares Price Performance

The business has a fifty day moving average of $10.97 and a 200-day moving average of $11.88.

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

Institutional investors and hedge funds have recently bought and sold shares of the stock. Flow Traders U.S. LLC bought a new position in Direxion Daily MSFT Bear 1X Shares in the 2nd quarter valued at about $117,000. Jump Financial LLC boosted its holdings in shares of Direxion Daily MSFT Bear 1X Shares by 24.3% in the first quarter. Jump Financial LLC now owns 30,853 shares of the company’s stock valued at $470,000 after acquiring an additional 6,028 shares in the last quarter. Finally, Advisory Services Network LLC bought a new position in shares of Direxion Daily MSFT Bear 1X Shares in the second quarter valued at approximately $697,000.

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.