Direxion Daily META Bull 2X Shares (NASDAQ:METU) Sees Large Volume Increase – Still a Buy?

Direxion Daily META Bull 2X Shares (NASDAQ:METU) shares saw strong trading volume on Thursday . 2,790,709 shares were traded during trading, a decline of 37% from the previous session’s volume of 4,398,975 shares.The stock last traded at $22.40 and had previously closed at $23.82.

Direxion Daily META Bull 2X Shares Trading Down 7.9%

The business has a 50 day moving average of $24.28 and a two-hundred day moving average of $27.66. The firm has a market cap of $515.83 million, a P/E ratio of 24.62 and a beta of 3.21.

Direxion Daily META Bull 2X Shares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd were issued a $0.1432 dividend. This represents a $0.57 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend was Tuesday, June 23rd.

Institutional Investors Weigh In On Direxion Daily META Bull 2X Shares

Hedge funds have recently bought and sold shares of the stock. Parallel Advisors LLC acquired a new position in shares of Direxion Daily META Bull 2X Shares in the fourth quarter valued at approximately $26,000. SRH Advisors LLC bought a new position in shares of Direxion Daily META Bull 2X Shares during the fourth quarter worth approximately $28,000. Summit Securities Group LLC acquired a new stake in shares of Direxion Daily META Bull 2X Shares during the fourth quarter worth $32,000. Mcguire Capital Advisors Inc. acquired a new position in shares of Direxion Daily META Bull 2X Shares in the fourth quarter valued at about $35,000. Finally, SOA Wealth Advisors LLC. grew its stake in shares of Direxion Daily META Bull 2X Shares by 27.9% in the first quarter. SOA Wealth Advisors LLC. now owns 2,364 shares of the company’s stock valued at $53,000 after acquiring an additional 515 shares in the last quarter.

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.