Direxion Daily META Bear 1X Shares (NASDAQ:METD) Trading Down 0.5% – Here’s Why

Direxion Daily META Bear 1X Shares (NASDAQ:METD)’s share price traded down 0.5% during trading on Tuesday . The stock traded as low as $14.56 and last traded at $14.69. Approximately 637,538 shares traded hands during trading, an increase of 44% from the average session volume of 444,172 shares. The stock had previously closed at $14.77.

Direxion Daily META Bear 1X Shares Price Performance

The company’s 50-day moving average is $16.58 and its two-hundred day moving average is $16.27.

Direxion Daily META Bear 1X Shares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd were paid a $0.0977 dividend. The ex-dividend date was Tuesday, June 23rd. This represents a $0.39 annualized dividend and a dividend yield of 2.7%.

Institutional Investors Weigh In On Direxion Daily META Bear 1X Shares

A number of hedge funds have recently made changes to their positions in the business. Genesis Financial Group LLC raised its stake in Direxion Daily META Bear 1X Shares by 13.2% during the 1st quarter. Genesis Financial Group LLC now owns 51,400 shares of the company’s stock valued at $911,000 after acquiring an additional 6,000 shares in the last quarter. Optiver Holding B.V. boosted its position in Direxion Daily META Bear 1X Shares by 58.2% during the 1st quarter. Optiver Holding B.V. now owns 21,191 shares of the company’s stock worth $376,000 after acquiring an additional 7,800 shares during the period. Flow Traders U.S. LLC bought a new position in shares of Direxion Daily META Bear 1X Shares in the second quarter worth $179,000. Finally, IMC Chicago LLC grew its stake in shares of Direxion Daily META Bear 1X Shares by 60.8% in the first quarter. IMC Chicago LLC now owns 105,235 shares of the company’s stock worth $1,865,000 after purchasing an additional 39,785 shares in the last quarter.

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.