Direxion Daily MSFT Bull 2X Shares (NASDAQ:MSFU) Sees Large Volume Increase – Here’s What Happened

Direxion Daily MSFT Bull 2X Shares (NASDAQ:MSFU) shares saw unusually-high trading volume on Thursday . Approximately 3,123,656 shares traded hands during mid-day trading, a decline of 38% from the previous session’s volume of 5,036,992 shares.The stock last traded at $28.98 and had previously closed at $29.06.

Direxion Daily MSFT Bull 2X Shares Price Performance

The business has a fifty day moving average of $26.66 and a 200 day moving average of $34.11. The stock has a market cap of $855.66 million, a price-to-earnings ratio of 42.77 and a beta of 1.85.

Direxion Daily MSFT Bull 2X Shares Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 24th were issued a $0.1301 dividend. The ex-dividend date was Tuesday, March 24th. This represents a $0.52 dividend on an annualized basis and a yield of 1.8%.

Hedge Funds Weigh In On Direxion Daily MSFT Bull 2X Shares

Hedge funds have recently added to or reduced their stakes in the company. SOA Wealth Advisors LLC. increased its holdings in Direxion Daily MSFT Bull 2X Shares by 147.3% in the first quarter. SOA Wealth Advisors LLC. now owns 1,679 shares of the company’s stock worth $39,000 after buying an additional 1,000 shares during the last quarter. Parallel Advisors LLC increased its holdings in Direxion Daily MSFT Bull 2X Shares by 167.4% in the fourth quarter. Parallel Advisors LLC now owns 1,725 shares of the company’s stock worth $72,000 after buying an additional 1,080 shares during the last quarter. Group One Trading LLC acquired a new position in Direxion Daily MSFT Bull 2X Shares in the third quarter worth approximately $137,000. Safe Harbor Fiduciary LLC acquired a new position in Direxion Daily MSFT Bull 2X Shares in the fourth quarter worth approximately $132,000. Finally, Flow Traders U.S. LLC acquired a new position in Direxion Daily MSFT Bull 2X Shares during the second quarter valued at approximately $207,000.

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.