Direxion Daily MU Bull 2X ETF (NASDAQ:MUU) Stock Falls 11.1% – Here’s What Happened

Direxion Daily MU Bull 2X ETF (NASDAQ:MUU)’s share price traded down 11.1% during trading on Thursday. The company traded as low as $23.54 and last traded at $23.3250. 21,834,772 shares traded hands during mid-day trading, a decline of 53% from the average daily volume of 46,606,227 shares. The stock had previously closed at $26.23.

Direxion Daily MU Bull 2X ETF Price Performance

The business’s 50 day moving average is $31.73 and its 200 day moving average is $30.80.

Institutional Trading of Direxion Daily MU Bull 2X ETF

Hedge funds have recently modified their holdings of the business. Dedeker Financial LLC boosted its position in shares of Direxion Daily MU Bull 2X ETF by 1,919.7% in the third quarter. Dedeker Financial LLC now owns 111,122 shares of the company’s stock worth $4,092,000 after buying an additional 105,620 shares during the period. Silverleafe Capital Partners LLC purchased a new position in shares of Direxion Daily MU Bull 2X ETF during the third quarter valued at $939,000. Optiver Holding B.V. acquired a new position in Direxion Daily MU Bull 2X ETF during the first quarter valued at $1,533,000. Renaissance Technologies LLC acquired a new position in Direxion Daily MU Bull 2X ETF during the first quarter valued at $1,023,000. Finally, Spartan Wealth Advisory Services LLC purchased a new stake in Direxion Daily MU Bull 2X ETF in the 1st quarter worth about $808,000.

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.