Direxion Daily MU Bull 2X Shares (NASDAQ:MUU) Trading 16.6% Higher – Still a Buy?

Shares of Direxion Daily MU Bull 2X Shares (NASDAQ:MUU) were up 16.6% during trading on Monday . The company traded as high as $346.00 and last traded at $345.01. Approximately 879,588 shares were traded during trading, a decline of 63% from the average daily volume of 2,400,243 shares. The stock had previously closed at $295.79.

Direxion Daily MU Bull 2X Shares Trading Up 11.3%

The stock’s fifty day moving average price is $192.16 and its 200 day moving average price is $141.17.

Direxion Daily MU Bull 2X Shares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 24th were issued a dividend of $0.6767 per share. This is a boost from Direxion Daily MU Bull 2X Shares’s previous quarterly dividend of $0.38. The ex-dividend date was Tuesday, March 24th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.8%.

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

Large investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC raised its position in shares of Direxion Daily MU Bull 2X Shares by 95.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,644 shares of the company’s stock worth $64,000 after purchasing an additional 1,289 shares during the last quarter. SBI Securities Co. Ltd. raised its position in shares of Direxion Daily MU Bull 2X Shares by 98.0% in the 4th quarter. SBI Securities Co. Ltd. now owns 1,275 shares of the company’s stock worth $128,000 after purchasing an additional 631 shares during the last quarter. PFG Investments LLC purchased a new position in shares of Direxion Daily MU Bull 2X Shares in the 1st quarter worth about $482,000. Diversify Wealth Management LLC purchased a new position in shares of Direxion Daily MU Bull 2X Shares in the 1st quarter worth about $658,000. Finally, Csenge Advisory Group purchased a new position in shares of Direxion Daily MU Bull 2X Shares in the 4th quarter worth about $677,000.

About Direxion Daily MU Bull 2X Shares

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.