Direxion Daily META Bull 2X Shares (NASDAQ:METU) Shares Down 2.4% – Time to Sell?

Direxion Daily META Bull 2X Shares (NASDAQ:METU) shares fell 2.4% during mid-day trading on Friday . The company traded as low as $24.41 and last traded at $24.69. 3,962,034 shares traded hands during mid-day trading, an increase of 3% from the average session volume of 3,846,337 shares. The stock had previously closed at $25.31.

Direxion Daily META Bull 2X Shares Trading Down 2.4%

The stock has a 50-day simple moving average of $27.26 and a 200-day simple moving average of $30.32. The company has a market capitalization of $360.97 million, a price-to-earnings ratio of 24.62 and a beta of 3.17.

Direxion Daily META Bull 2X Shares Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 24th were given a dividend of $0.1935 per share. This represents a $0.77 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend was Tuesday, March 24th.

Institutional Investors Weigh In On Direxion Daily META Bull 2X Shares

Several institutional investors and hedge funds have recently made changes to their positions in METU. UBS Group AG acquired a new stake in shares of Direxion Daily META Bull 2X Shares during the 4th quarter valued at approximately $2,500,000. Simplex Trading LLC acquired a new stake in shares of Direxion Daily META Bull 2X Shares during the 4th quarter valued at approximately $1,290,000. Virtu Financial LLC acquired a new stake in shares of Direxion Daily META Bull 2X Shares during the 4th quarter valued at approximately $876,000. OLD Mission Capital LLC acquired a new stake in shares of Direxion Daily META Bull 2X Shares during the 4th quarter valued at approximately $575,000. Finally, Corient Private Wealth LLC bought a new position in Direxion Daily META Bull 2X Shares during the 2nd quarter worth $681,000.

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.