Direxion Daily META Bull 2X ETF (NASDAQ:METU) Sees Large Volume Increase – Here’s Why

Direxion Daily META Bull 2X ETF (NASDAQ:METU) shares saw strong trading volume on Monday . Approximately 2,969,589 shares changed hands during trading, a decline of 39% from the previous session’s volume of 4,841,991 shares.The stock last traded at $30.2720 and had previously closed at $26.40.

Direxion Daily META Bull 2X ETF Stock Performance

The stock has a market cap of $529.93 million, a price-to-earnings ratio of 24.62 and a beta of 3.21. The company has a 50-day simple moving average of $22.51 and a two-hundred day simple moving average of $24.19.

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

A number of institutional investors have recently added to or reduced their stakes in the company. UBS Group AG acquired a new position in shares of Direxion Daily META Bull 2X ETF during the 4th quarter worth about $2,500,000. Bullseye Investment Management LLC bought a new stake in shares of Direxion Daily META Bull 2X ETF in the 2nd quarter valued at about $1,125,000. Virtu Financial LLC acquired a new stake in Direxion Daily META Bull 2X ETF in the 4th quarter valued at about $876,000. Tactive Advisors LLC lifted its stake 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 purchasing an additional 16,400 shares during the last quarter. Finally, Integrated Wealth Concepts LLC bought a new position in Direxion Daily META Bull 2X ETF during the second 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.