Direxion Daily MU Bull 2X ETF (NASDAQ:MUU) Stock Price Down 8.6% – Here’s What Happened

Direxion Daily MU Bull 2X ETF (NASDAQ:MUU)’s share price was down 8.6% during mid-day trading on Thursday. The company traded as low as $35.21 and last traded at $34.6140. 15,967,394 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 47,685,699 shares. The stock had previously closed at $37.88.

Direxion Daily MU Bull 2X ETF Stock Down 8.7%

The company has a 50 day moving average price of $31.66 and a two-hundred day moving average price of $29.26.

Hedge Funds Weigh In On Direxion Daily MU Bull 2X ETF

A number of institutional investors and hedge funds have recently modified their holdings of the company. Silverleafe Capital Partners LLC bought a new stake in Direxion Daily MU Bull 2X ETF during the third quarter valued at approximately $939,000. Optiver Holding B.V. bought a new position in shares of Direxion Daily MU Bull 2X ETF during the first quarter worth $1,533,000. Renaissance Technologies LLC purchased a new position in shares of Direxion Daily MU Bull 2X ETF during the first quarter valued at about $1,023,000. Spartan Wealth Advisory Services LLC bought a new stake in Direxion Daily MU Bull 2X ETF in the 1st quarter worth approximately $808,000. Finally, Diversify Wealth Management LLC purchased a new stake in Direxion Daily MU Bull 2X ETF during the first quarter valued at $658,000.

Direxion Daily MU Bull 2X ETF Company Profile

The Direxion Daily MU Bull 2X Shares (MUU) is an exchange-traded fund that mostly invests in information technology equity. The fund provides 2x leveraged exposure, less fees and expenses, to the daily price movement for shares of Micron Technology, Inc stock. MUU was launched on Oct 10, 2024 and is issued by Direxion.