Short Interest in Direxion Daily META Bull 2X Shares (NASDAQ:METU) Rises By 84.0%

Direxion Daily META Bull 2X Shares (NASDAQ:METU) was the recipient of a significant growth in short interest during the month of July. As of July 31st, there was short interest totaling 7,895,832 shares, a growth of 84.0% from the July 15th total of 4,292,060 shares. Currently, 45.4% of the company’s shares are sold short. Based on an average daily volume of 4,436,871 shares, the days-to-cover ratio is presently 1.8 days.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. UBS Group AG acquired a new stake in shares of Direxion Daily META Bull 2X Shares in the fourth quarter worth approximately $2,500,000. Tactive Advisors LLC raised its stake in Direxion Daily META Bull 2X Shares by 65.9% during the second quarter. Tactive Advisors LLC now owns 41,275 shares of the company’s stock worth $836,000 after purchasing an additional 16,400 shares during the period. Simplex Trading LLC purchased a new position in Direxion Daily META Bull 2X Shares during the fourth quarter worth approximately $1,290,000. Virtu Financial LLC acquired a new position in shares of Direxion Daily META Bull 2X Shares in the 4th quarter valued at $876,000. Finally, OLD Mission Capital LLC acquired a new position in shares of Direxion Daily META Bull 2X Shares in the 4th quarter valued at $575,000.

Direxion Daily META Bull 2X Shares Trading Down 6.4%

NASDAQ METU opened at $18.42 on Tuesday. The business’s 50-day moving average price is $22.35 and its 200 day moving average price is $25.77. Direxion Daily META Bull 2X Shares has a twelve month low of $16.85 and a twelve month high of $49.75. The company has a market capitalization of $320.51 million, a PE ratio of 24.62 and a beta of 3.21.

Direxion Daily META Bull 2X Shares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd were issued a $0.1432 dividend. The ex-dividend date was Tuesday, June 23rd. This represents a $0.57 annualized dividend and a yield of 3.1%.

About Direxion Daily META Bull 2X Shares

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.