Direxion Daily MSFT Bull 2X Shares (NASDAQ:MSFU) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Direxion Daily MSFT Bull 2X Shares (NASDAQ:MSFU) saw strong trading volume on Friday . 6,403,864 shares changed hands during mid-day trading, an increase of 25% from the previous session’s volume of 5,130,857 shares.The stock last traded at $31.52 and had previously closed at $29.92.

Direxion Daily MSFT Bull 2X Shares Stock Performance

The stock’s fifty day moving average is $26.94 and its 200 day moving average is $33.42. The stock has a market cap of $982.77 million, a P/E ratio of 42.77 and a beta of 1.85.

Direxion Daily MSFT Bull 2X Shares Cuts Dividend

The firm also recently declared 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 of this dividend was Tuesday, March 24th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.6%.

Institutional Trading of Direxion Daily MSFT Bull 2X Shares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SOA Wealth Advisors LLC. raised its position in Direxion Daily MSFT Bull 2X Shares by 147.3% in the 1st quarter. SOA Wealth Advisors LLC. now owns 1,679 shares of the company’s stock worth $39,000 after purchasing an additional 1,000 shares during the period. Parallel Advisors LLC raised its position in Direxion Daily MSFT Bull 2X Shares by 167.4% in the 4th quarter. Parallel Advisors LLC now owns 1,725 shares of the company’s stock worth $72,000 after purchasing an additional 1,080 shares during the period. Group One Trading LLC purchased a new stake in Direxion Daily MSFT Bull 2X Shares in the 3rd quarter worth about $137,000. Safe Harbor Fiduciary LLC purchased a new stake in Direxion Daily MSFT Bull 2X Shares in the 4th quarter worth about $132,000. Finally, Flow Traders U.S. LLC purchased a new stake in Direxion Daily MSFT Bull 2X Shares in the 2nd quarter worth about $207,000.

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.