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

Direxion Daily META Bull 2X ETF (NASDAQ:METU)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $31.84, but opened at $32.80. Direxion Daily META Bull 2X ETF shares last traded at $32.9880, with a volume of 2,316,461 shares traded.

Direxion Daily META Bull 2X ETF Price Performance

The company has a market cap of $591.80 million, a P/E ratio of 24.62 and a beta of 3.21. The company has a 50 day moving average of $22.71 and a 200-day moving average of $24.21.

Institutional Trading of Direxion Daily META Bull 2X ETF

Institutional investors and hedge funds have recently modified their holdings of the business. UBS Group AG bought a new stake in shares of Direxion Daily META Bull 2X ETF during the 4th quarter valued at about $2,500,000. Bullseye Investment Management LLC bought a new position in shares of Direxion Daily META Bull 2X ETF in the second quarter worth approximately $1,125,000. Virtu Financial LLC bought a new position in shares of Direxion Daily META Bull 2X ETF in the fourth quarter worth approximately $876,000. Tactive Advisors LLC raised its stake in Direxion Daily META Bull 2X ETF by 65.9% in the second 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 in the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new stake in Direxion Daily META Bull 2X ETF in the second quarter valued at approximately $186,000.

Direxion Daily META Bull 2X ETF Company Profile

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.