Direxion Daily META Bull 2X ETF (NASDAQ:METU) Shares Gap Down – Here’s Why

Shares of Direxion Daily META Bull 2X ETF (NASDAQ:METU) gapped down before the market opened on Tuesday . The stock had previously closed at $32.42, but opened at $31.36. Direxion Daily META Bull 2X ETF shares last traded at $32.6180, with a volume of 2,336,677 shares trading hands.

Direxion Daily META Bull 2X ETF Trading Up 1.6%

The firm has a market capitalization of $573.05 million, a P/E ratio of 24.62 and a beta of 3.21. The firm has a 50 day moving average price of $22.62 and a 200-day moving average price of $24.21.

Institutional Trading of Direxion Daily META Bull 2X ETF

A number of institutional investors have recently bought and sold shares of METU. UBS Group AG purchased a new stake in shares of Direxion Daily META Bull 2X ETF in the fourth quarter worth approximately $2,500,000. Bullseye Investment Management LLC bought a new stake in Direxion Daily META Bull 2X ETF during the 2nd quarter valued at about $1,125,000. Virtu Financial LLC purchased a new stake in Direxion Daily META Bull 2X ETF in the 4th quarter valued at about $876,000. Tactive Advisors LLC boosted its position in Direxion Daily META Bull 2X ETF by 65.9% in the 2nd quarter. Tactive Advisors LLC now owns 41,275 shares of the company’s stock valued at $836,000 after buying an additional 16,400 shares during the period. Finally, Integrated Wealth Concepts LLC bought a new position in Direxion Daily META Bull 2X ETF in the 2nd quarter worth about $186,000.

About Direxion Daily META Bull 2X ETF

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.