Direxion Daily MU Bear 1X Shares (NASDAQ:MUD) Stock Price Down 4.7% – Here’s Why

Direxion Daily MU Bear 1X Shares (NASDAQ:MUD) traded down 4.7% during mid-day trading on Friday . The stock traded as low as $7.16 and last traded at $7.26. 1,470,367 shares traded hands during trading, an increase of 249% from the average session volume of 421,011 shares. The stock had previously closed at $7.62.

Direxion Daily MU Bear 1X Shares Trading Down 4.7%

The business has a fifty day moving average price of $8.39 and a 200 day moving average price of $13.41.

Direxion Daily MU Bear 1X Shares Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 23rd were paid a dividend of $0.0707 per share. The ex-dividend date was Tuesday, September 23rd. This represents a $0.28 annualized dividend and a yield of 3.9%.

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

A hedge fund recently raised its stake in Direxion Daily MU Bear 1X Shares stock. Optiver Holding B.V. increased its holdings in shares of Direxion Daily MU Bear 1X Shares (NASDAQ:MUD) by 72.7% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 29,172 shares of the company’s stock after purchasing an additional 12,277 shares during the quarter. Optiver Holding B.V. owned 0.84% of Direxion Daily MU Bear 1X Shares worth $322,000 as of its most recent filing with the SEC.

About Direxion Daily MU Bear 1X Shares

The Direxion Daily MU Bear 1X Shares (MUD) is an exchange-traded fund that mostly invests in information technology equity. The fund provides inverse (-1x) exposure, less fees and expenses, to the daily price movement for shares of Micron Technology, Inc stock. MUD was launched on Oct 10, 2024 and is issued by Direxion.