Direxion Daily MSFT Bull 2X Shares (NASDAQ:MSFU) Shares Gap Down - Here's What Happened

Key Points

• Shares gapped down pre-market, falling from a prior close of $29.85 to an open of $27.87 and last trading at $27.27 on heavy volume of about 4.75 million shares.
• MSFU is a Direxion ETF that provides 1.5x leveraged exposure to daily Microsoft price movements and has a market cap of $797.2 million with a 50-day/200-day moving average of $26.40/$36.64.
• The fund recently paid a quarterly dividend of $0.1301 (annualized $0.52) for a yield of roughly 1.9%, with record date March 24 and payment on March 31.

Direxion Daily MSFT Bull 2X Shares (NASDAQ:MSFU - ) shares gapped down before the market opened on Thursday . The stock had previously closed at $29.85, but opened at $27.87. Direxion Daily MSFT Bull 2X Shares shares last traded at $27.27, with a volume of 4,752,975 shares traded.

Direxion Daily MSFT Bull 2X Shares Price Performance

The company has a market capitalization of $797.24 million, a price-to-earnings ratio of 42.77 and a beta of 1.82. The stock has a 50-day moving average price of $26.40 and a 200-day moving average price of $36.64.

Direxion Daily MSFT Bull 2X Shares Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 24th were paid a $0.1301 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Tuesday, March 24th.

Institutional Trading of Direxion Daily MSFT Bull 2X Shares

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Group One Trading LLC increased its stake in shares of Direxion Daily MSFT Bull 2X Shares by 14.6% in the fourth quarter. Group One Trading LLC now owns 3,011 shares of the company's stock valued at $125,000 after buying an additional 384 shares during the period. Parallel Advisors LLC raised its holdings in Direxion Daily MSFT Bull 2X Shares by 167.4% during 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 last quarter. Safe Harbor Fiduciary LLC acquired a new stake in shares of Direxion Daily MSFT Bull 2X Shares during the fourth quarter worth $132,000. Flow Traders U.S. LLC bought a new position in Direxion Daily MSFT Bull 2X Shares during the second quarter worth $207,000. Finally, StoneX Group Inc. acquired a new stake in Direxion Daily MSFT Bull 2X Shares during the 4th quarter worth about $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.

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