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

Direxion Daily MU Bear 1X Shares (NASDAQ:MUD) was the recipient of a significant increase in short interest during the month of August. As of August 14th, there was short interest totaling 907,071 shares, an increase of 1,319.1% from the July 30th total of 63,918 shares. Based on an average trading volume of 10,505,943 shares, the days-to-cover ratio is currently 0.1 days. Currently, 21.5% of the shares of the stock are sold short.

Direxion Daily MU Bear 1X Shares Stock Performance

MUD traded down $0.26 during trading on Tuesday, hitting $10.72. 3,521,664 shares of the company traded hands, compared to its average volume of 7,765,113. The stock’s 50-day simple moving average is $11.27 and its two-hundred day simple moving average is $23.04. Direxion Daily MU Bear 1X Shares has a 1 year low of $8.90 and a 1 year high of $164.70.

Direxion Daily MU Bear 1X Shares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd were given a dividend of $0.0505 per share. The ex-dividend date was Tuesday, June 23rd. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.9%.

Institutional Investors Weigh In On Direxion Daily MU Bear 1X Shares

A hedge fund recently raised its stake in Direxion Daily MU Bear 1X Shares stock. Susquehanna International Group LLP increased its position in Direxion Daily MU Bear 1X Shares (NASDAQ:MUD) by 40.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,616 shares of the company’s stock after buying an additional 5,941 shares during the period. Susquehanna International Group LLP owned 0.59% of Direxion Daily MU Bear 1X Shares worth $228,000 at the end of the most recent quarter.

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.