Direxion Daily META Bull 2X Shares (NASDAQ:METU) Shares Up 7.1% – Here’s What Happened

Direxion Daily META Bull 2X Shares (NASDAQ:METU)’s stock price were up 7.1% during trading on Wednesday . The stock traded as high as $29.40 and last traded at $29.28. Approximately 4,414,118 shares changed hands during mid-day trading, a decline of 4% from the average daily volume of 4,596,822 shares. The stock had previously closed at $27.33.

Direxion Daily META Bull 2X Shares Trading Up 4.3%

The business has a 50 day simple moving average of $23.45 and a two-hundred day simple moving average of $27.17. The stock has a market cap of $570.20 million, a price-to-earnings ratio of 24.62 and a beta of 3.21.

Direxion Daily META Bull 2X Shares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd were given a dividend of $0.1432 per share. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $0.57 dividend on an annualized basis and a dividend yield of 2.0%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. UBS Group AG bought a new stake in shares of Direxion Daily META Bull 2X Shares in the 4th quarter worth about $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 valued at $836,000 after buying an additional 16,400 shares in the last quarter. Simplex Trading LLC bought a new position in Direxion Daily META Bull 2X Shares during the 4th 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 worth approximately $876,000. Finally, OLD Mission Capital LLC bought a new stake in shares of Direxion Daily META Bull 2X Shares in the 4th quarter valued at approximately $575,000.

Direxion Daily META Bull 2X Shares 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.