Direxion Daily MU Bear 1X Shares (NASDAQ:MUD) Trading 1.4% Higher – Time to Buy?

Direxion Daily MU Bear 1X Shares (NASDAQ:MUD) shares were up 1.4% during trading on Tuesday . The company traded as high as $14.33 and last traded at $13.23. Approximately 33,978,159 shares changed hands during trading, an increase of 684% from the average daily volume of 4,334,157 shares. The stock had previously closed at $13.05.

Direxion Daily MU Bear 1X Shares Stock Up 1.4%

The company has a 50-day simple moving average of $24.82 and a two-hundred day simple moving average of $41.09.

Direxion Daily MU Bear 1X 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 $0.2725 dividend. This represents a $1.09 dividend on an annualized basis and a dividend yield of 8.2%. The ex-dividend date of this dividend was Tuesday, March 24th.

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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MUD. Optiver Holding B.V. lifted its stake in shares of Direxion Daily MU Bear 1X Shares by 72.7% in the 3rd quarter. Optiver Holding B.V. now owns 29,172 shares of the company’s stock worth $322,000 after acquiring an additional 12,277 shares during the period. Susquehanna International Group LLP boosted its holdings in shares of Direxion Daily MU Bear 1X Shares by 40.5% in the third quarter. Susquehanna International Group LLP now owns 20,616 shares of the company’s stock valued at $228,000 after acquiring an additional 5,941 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in shares of Direxion Daily MU Bear 1X Shares during the fourth quarter valued at approximately $133,000.

About Direxion Daily MU Bear 1X Shares

The Direxion Daily MU Bear 1X Shares (MUD) is an exchange-traded fund that mostly invests in information technology equity. The fund provides inverse (-1x) exposure, less fees and expenses, to the daily price movement for shares of Micron Technology, Inc stock. MUD was launched on Oct 10, 2024 and is issued by Direxion.