Direxion Daily MSFT Bull 2X Shares (NASDAQ:MSFU) Sees Strong Trading Volume – Should You Buy?

Shares of Direxion Daily MSFT Bull 2X Shares (NASDAQ:MSFU) saw strong trading volume on Tuesday . 3,413,888 shares changed hands during mid-day trading, a decline of 42% from the previous session’s volume of 5,908,364 shares.The stock last traded at $23.17 and had previously closed at $24.17.

Direxion Daily MSFT Bull 2X Shares Trading Up 5.4%

The firm’s 50-day simple moving average is $26.20 and its 200 day simple moving average is $28.81. The stock has a market cap of $947.25 million, a P/E ratio of 42.77 and a beta of 2.03.

Direxion Daily MSFT Bull 2X Shares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd were given a dividend of $0.1438 per share. The ex-dividend date was Tuesday, June 23rd. This represents a $0.58 annualized dividend and a dividend yield of 2.3%.

Institutional Trading of Direxion Daily MSFT Bull 2X Shares

Several large investors have recently added to or reduced their stakes in the business. Jane Street Group LLC bought a new stake in Direxion Daily MSFT Bull 2X Shares during the 1st quarter valued at $930,000. Flow Traders U.S. LLC bought a new position in shares of Direxion Daily MSFT Bull 2X Shares in the second quarter worth $207,000. Two Sigma Securities LLC acquired a new position in shares of Direxion Daily MSFT Bull 2X Shares during the second quarter valued at $634,000. Group One Trading LLC acquired a new position in shares of Direxion Daily MSFT Bull 2X Shares during the third quarter valued at $137,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Direxion Daily MSFT Bull 2X Shares during the third quarter valued at about $717,000.

Direxion Daily MSFT Bull 2X Shares Company Profile

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.