Direxion Daily MU Bull 2X ETF (NASDAQ:MUU) Stock Price Down 13.8% – Here’s Why

Direxion Daily MU Bull 2X ETF (NASDAQ:MUU) dropped 13.8% during mid-day trading on Wednesday. The stock traded as low as $19.55 and last traded at $19.2840. Approximately 18,495,436 shares traded hands during mid-day trading, a decline of 59% from the average session volume of 45,577,949 shares. The stock had previously closed at $22.36.

Direxion Daily MU Bull 2X ETF Stock Performance

The firm’s 50-day moving average is $30.86 and its two-hundred day moving average is $24.61.

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

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Corient Private Wealth LP acquired a new stake in shares of Direxion Daily MU Bull 2X ETF in the second quarter valued at about $523,000. Parallel Advisors LLC boosted its position in Direxion Daily MU Bull 2X ETF by 7,354.5% during the third quarter. Parallel Advisors LLC now owns 1,640 shares of the company’s stock worth $60,000 after acquiring an additional 1,618 shares during the last quarter. Vestor Capital LLC purchased a new stake in Direxion Daily MU Bull 2X ETF during the 3rd quarter valued at about $73,000. PFG Investments LLC purchased a new stake in Direxion Daily MU Bull 2X ETF during the 1st quarter valued at about $482,000. Finally, Diversify Wealth Management LLC acquired a new stake in Direxion Daily MU Bull 2X ETF in the 1st quarter valued at about $658,000.

About Direxion Daily MU Bull 2X ETF

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.