Direxion Daily MSFT Bull 2X Shares (NASDAQ:MSFU) Trading 8.2% Higher – Should You Buy?

Direxion Daily MSFT Bull 2X Shares (NASDAQ:MSFU)’s stock price were up 8.2% during mid-day trading on Wednesday . The company traded as high as $27.94 and last traded at $27.93. Approximately 7,128,066 shares traded hands during trading, an increase of 83% from the average daily volume of 3,889,954 shares. The stock had previously closed at $25.81.

Direxion Daily MSFT Bull 2X Shares Trading Up 2.5%

The firm’s fifty day moving average is $26.06 and its 200 day moving average is $38.15. The company has a market cap of $865.35 million, a PE ratio of 42.77 and a beta of 1.82.

Direxion Daily MSFT Bull 2X Shares Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 24th were given a $0.1301 dividend. The ex-dividend date was Tuesday, March 24th. This represents a $0.52 annualized dividend and a dividend yield of 1.7%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Jane Street Group LLC acquired a new stake in Direxion Daily MSFT Bull 2X Shares in the 1st quarter worth about $930,000. Flow Traders U.S. LLC acquired a new position in shares of Direxion Daily MSFT Bull 2X Shares during the second quarter valued at approximately $207,000. Two Sigma Securities LLC purchased a new position in shares of Direxion Daily MSFT Bull 2X Shares in the second quarter valued at approximately $634,000. Group One Trading LLC purchased a new position in shares of Direxion Daily MSFT Bull 2X Shares in the third quarter valued at approximately $137,000. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of Direxion Daily MSFT Bull 2X Shares in the third quarter worth approximately $717,000.

About Direxion Daily MSFT Bull 2X Shares

The Direxion Daily MSFT Bull 1.5X Shares ETF (MSFU) is an exchange-traded fund that is based on the Microsoft Corporation index. The fund provides 1.5x leveraged exposure, less fees and expenses, to the daily price movement for shares of Microsoft stock. MSFU was launched on Sep 7, 2022 and is managed by Direxion.