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

Direxion Daily META Bear 1X Shares (NASDAQ:METD) was the recipient of a large decline in short interest in May. As of May 15th, there was short interest totaling 8,023 shares, a decline of 79.7% from the April 30th total of 39,552 shares. Based on an average daily volume of 169,869 shares, the days-to-cover ratio is currently 0.0 days. Currently, 1.9% of the company’s stock are sold short.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. IMC Chicago LLC acquired a new position in Direxion Daily META Bear 1X Shares during the 4th quarter worth approximately $1,037,000. Genesis Financial Group LLC acquired a new position in shares of Direxion Daily META Bear 1X Shares during the 4th quarter worth about $720,000. Flow Traders U.S. LLC acquired a new position in shares of Direxion Daily META Bear 1X Shares during the 2nd quarter worth about $179,000. Finally, Optiver Holding B.V. boosted its position in shares of Direxion Daily META Bear 1X Shares by 21.1% during the 3rd quarter. Optiver Holding B.V. now owns 15,363 shares of the company’s stock worth $223,000 after acquiring an additional 2,681 shares in the last quarter.

Direxion Daily META Bear 1X Shares Trading Up 0.5%

METD traded up $0.08 on Friday, hitting $15.86. 246,948 shares of the company were exchanged, compared to its average volume of 394,531. Direxion Daily META Bear 1X Shares has a twelve month low of $13.45 and a twelve month high of $19.54. The firm has a 50-day moving average price of $16.41 and a two-hundred day moving average price of $16.23.

Direxion Daily META Bear 1X Shares Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 24th were issued a dividend of $0.0691 per share. This represents a $0.28 annualized dividend and a yield of 1.7%. The ex-dividend date was Tuesday, March 24th.

Direxion Daily META Bear 1X Shares 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.