Direxion Daily META Bear 1X ETF (NASDAQ:METD) Sees Large Decrease in Short Interest

Direxion Daily META Bear 1X ETF (NASDAQ:METD) was the target of a large drop in short interest in October. As of October 15th, there was short interest totaling 8,206 shares, a drop of 58.5% from the September 30th total of 19,763 shares. Currently, 1.1% of the company’s stock are sold short. Based on an average daily volume of 572,145 shares, the days-to-cover ratio is currently 0.0 days.

Direxion Daily META Bear 1X ETF Price Performance

NASDAQ:METD traded up $0.24 during trading hours on Friday, hitting $15.03. 197,762 shares of the company traded hands, compared to its average volume of 555,280. The firm has a 50-day moving average of $14.21 and a 200 day moving average of $15.75. Direxion Daily META Bear 1X ETF has a twelve month low of $11.98 and a twelve month high of $19.54.

Institutional Investors Weigh In On Direxion Daily META Bear 1X ETF

Several institutional investors have recently bought and sold shares of the company. Optiver Holding B.V. grew its position in shares of Direxion Daily META Bear 1X ETF by 58.2% in the first quarter. Optiver Holding B.V. now owns 21,191 shares of the company’s stock valued at $376,000 after purchasing an additional 7,800 shares during the last quarter. Genesis Financial Group LLC increased its stake in Direxion Daily META Bear 1X ETF by 13.2% in the first quarter. Genesis Financial Group LLC now owns 51,400 shares of the company’s stock valued at $911,000 after purchasing an additional 6,000 shares in the last quarter. Finally, IMC Chicago LLC raised its holdings in Direxion Daily META Bear 1X ETF by 60.8% during the first quarter. IMC Chicago LLC now owns 105,235 shares of the company’s stock worth $1,865,000 after buying an additional 39,785 shares during the last quarter.

Direxion Daily META Bear 1X ETF Company Profile

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.