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

Direxion Daily META Bear 1X Shares (NASDAQ:METD) saw a large increase in short interest in April. As of April 30th, there was short interest totaling 39,552 shares, an increase of 202.6% from the April 15th total of 13,070 shares. Approximately 9.2% of the company’s shares are sold short. Based on an average trading volume of 277,661 shares, the days-to-cover ratio is presently 0.1 days.

Direxion Daily META Bear 1X Shares Trading Up 0.7%

Shares of NASDAQ METD traded up $0.11 during midday trading on Friday, hitting $16.31. The company’s stock had a trading volume of 110,975 shares, compared to its average volume of 419,447. The business’s fifty day simple moving average is $16.39 and its two-hundred day simple moving average is $16.20. Direxion Daily META Bear 1X Shares has a 1 year low of $13.45 and a 1 year high of $19.54.

Direxion Daily META Bear 1X Shares Cuts Dividend

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. IMC Chicago LLC purchased a new stake in shares of Direxion Daily META Bear 1X Shares during the fourth quarter worth $1,037,000. Genesis Financial Group LLC acquired a new position in shares of Direxion Daily META Bear 1X Shares during the fourth quarter worth about $720,000. Flow Traders U.S. LLC purchased a new stake in shares of Direxion Daily META Bear 1X Shares during the second quarter worth approximately $179,000. Finally, Optiver Holding B.V. increased its stake in shares of Direxion Daily META Bear 1X Shares by 21.1% during the third quarter. Optiver Holding B.V. now owns 15,363 shares of the company’s stock worth $223,000 after buying an additional 2,681 shares during the period.

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.