Direxion Daily MU Bull 2X ETF (NASDAQ:MUU) Stock Price Down 8.1% – Here’s Why

Direxion Daily MU Bull 2X ETF (NASDAQ:MUU) shares were down 8.1% during trading on Friday. The stock traded as low as $17.01 and last traded at $16.6670. Approximately 6,336,145 shares changed hands during trading, a decline of 86% from the average session volume of 45,438,711 shares. The stock had previously closed at $18.13.

Direxion Daily MU Bull 2X ETF Stock Down 10.0%

The company has a fifty day simple moving average of $28.97 and a two-hundred day simple moving average of $24.87.

Institutional Investors Weigh In On Direxion Daily MU Bull 2X ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Corient Private Wealth LP acquired a new stake in shares of Direxion Daily MU Bull 2X ETF in the 2nd quarter valued at approximately $523,000. Gen Wealth Partners Inc acquired a new position in shares of Direxion Daily MU Bull 2X ETF during the third quarter valued at about $37,000. Parallel Advisors LLC lifted its stake in shares of Direxion Daily MU Bull 2X ETF by 7,354.5% in the third quarter. Parallel Advisors LLC now owns 1,640 shares of the company’s stock valued at $60,000 after buying an additional 1,618 shares in the last quarter. Vestor Capital LLC purchased a new stake in Direxion Daily MU Bull 2X ETF in the 3rd quarter valued at $73,000. Finally, Diversify Wealth Management LLC bought a new position in shares of Direxion Daily MU Bull 2X ETF during the 1st quarter worth approximately $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.