Direxion Daily META Bear 1X Shares (NASDAQ:METD) Trading Down 1.7% – Here’s Why

Direxion Daily META Bear 1X Shares (NASDAQ:METD)’s stock price dropped 1.7% during mid-day trading on Monday . The company traded as low as $16.93 and last traded at $17.05. Approximately 215,949 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 501,266 shares. The stock had previously closed at $17.35.

Direxion Daily META Bear 1X Shares Trading Down 1.7%

The company’s 50-day simple moving average is $15.99 and its 200 day simple moving average is $15.71.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Flow Traders U.S. LLC bought a new position in shares of Direxion Daily META Bear 1X Shares in the 2nd quarter valued at approximately $179,000. Optiver Holding B.V. boosted its position in Direxion Daily META Bear 1X Shares by 21.1% during the third quarter. Optiver Holding B.V. now owns 15,363 shares of the company’s stock worth $223,000 after purchasing an additional 2,681 shares during the period. Genesis Financial Group LLC bought a new stake in Direxion Daily META Bear 1X Shares during the fourth quarter worth approximately $720,000. Finally, IMC Chicago LLC acquired a new position in Direxion Daily META Bear 1X Shares during the fourth quarter valued at approximately $1,037,000.

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.