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

Direxion Daily META Bear 1X Shares (NASDAQ:METD) saw a significant growth in short interest in the month of February. As of February 13th, there was short interest totaling 42,112 shares, a growth of 77.5% from the January 29th total of 23,728 shares. Currently, 10.5% of the company’s shares are sold short. Based on an average daily trading volume, of 715,306 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily trading volume, of 715,306 shares, the days-to-cover ratio is presently 0.1 days. Currently, 10.5% of the company’s shares are sold short.

Direxion Daily META Bear 1X Shares Trading Up 1.4%

Shares of METD traded up $0.22 during midday trading on Friday, hitting $15.94. The stock had a trading volume of 402,485 shares, compared to its average volume of 560,120. Direxion Daily META Bear 1X Shares has a 1 year low of $13.45 and a 1 year high of $23.35. The stock’s 50 day moving average is $15.88 and its 200 day moving average is $15.46.

Direxion Daily META Bear 1X Shares Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 23rd were paid a dividend of $0.133 per share. The ex-dividend date of this dividend was Tuesday, December 23rd. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.3%.

Hedge Funds Weigh In On Direxion Daily META Bear 1X Shares

Large investors have recently bought and sold shares of the business. Flow Traders U.S. LLC purchased a new stake in Direxion Daily META Bear 1X Shares during the second quarter worth $179,000. Optiver Holding B.V. raised its position in shares of Direxion Daily META Bear 1X Shares by 21.1% in 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. Genesis Financial Group LLC purchased a new stake in shares of Direxion Daily META Bear 1X Shares during the 4th quarter worth $720,000. Finally, IMC Chicago LLC bought a new stake in Direxion Daily META Bear 1X Shares during the fourth quarter valued at about $1,037,000.

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.