Direxion Daily META Bull 2X Shares (NASDAQ:METU) Shares Gap Up – Still a Buy?

Direxion Daily META Bull 2X Shares (NASDAQ:METU)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $27.49, but opened at $28.91. Direxion Daily META Bull 2X Shares shares last traded at $29.58, with a volume of 2,417,035 shares traded.

Direxion Daily META Bull 2X Shares Trading Up 3.4%

The company has a market capitalization of $677.39 million, a PE ratio of 24.62 and a beta of 4.09. The company has a fifty day simple moving average of $30.70 and a 200-day simple moving average of $38.29.

Direxion Daily META Bull 2X Shares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 23rd were issued a $0.209 dividend. This represents a $0.84 annualized dividend and a yield of 2.6%. The ex-dividend date was Tuesday, December 23rd. This is a positive change from Direxion Daily META Bull 2X Shares’s previous quarterly dividend of $0.11.

Institutional Trading of Direxion Daily META Bull 2X Shares

Several institutional investors have recently made changes to their positions in the company. SOA Wealth Advisors LLC. lifted its stake in shares of Direxion Daily META Bull 2X Shares by 42.3% in the 4th quarter. SOA Wealth Advisors LLC. now owns 1,849 shares of the company’s stock valued at $59,000 after purchasing an additional 550 shares during the last quarter. SBI Securities Co. Ltd. raised its holdings in Direxion Daily META Bull 2X Shares by 36,550.0% in the 2nd quarter. SBI Securities Co. Ltd. now owns 733 shares of the company’s stock valued at $33,000 after buying an additional 731 shares during the period. SRH Advisors LLC acquired a new position in Direxion Daily META Bull 2X Shares in the fourth quarter valued at about $28,000. Bank of America Corp DE acquired a new position in Direxion Daily META Bull 2X Shares in the second quarter valued at about $244,000. Finally, SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co purchased a new position in Direxion Daily META Bull 2X Shares during the second quarter worth about $345,000.

Direxion Daily META Bull 2X Shares Company Profile

The Direxion Daily META Bull 2X Shares (METU) is an exchange-traded fund that is based on the Meta Platforms Inc Class A index. The fund provides 2x leveraged exposure, less fees and expenses, to the daily price movement for shares of META stock. METU was launched on Jun 5, 2024 and is issued by Direxion.