Direxion Daily META Bull 2X ETF (NASDAQ:METU) Sees Large Increase in Short Interest

Direxion Daily META Bull 2X ETF (NASDAQ:METU) saw a significant growth in short interest in the month of October. As of October 15th, there was short interest totaling 3,199,804 shares, a growth of 118.8% from the September 30th total of 1,462,101 shares. Based on an average trading volume of 3,168,941 shares, the days-to-cover ratio is presently 1.0 days. Currently, 24.1% of the shares of the stock are sold short.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in METU. Bullseye Investment Management LLC purchased a new stake in Direxion Daily META Bull 2X ETF in the second quarter valued at $1,125,000. Tactive Advisors LLC lifted its holdings in shares of Direxion Daily META Bull 2X ETF by 65.9% in the 2nd quarter. Tactive Advisors LLC now owns 41,275 shares of the company’s stock valued at $836,000 after purchasing an additional 16,400 shares during the last quarter. Retirement Planning Co of New England Inc. grew its position in Direxion Daily META Bull 2X ETF by 7.9% in the 3rd quarter. Retirement Planning Co of New England Inc. now owns 20,425 shares of the company’s stock valued at $626,000 after buying an additional 1,487 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in Direxion Daily META Bull 2X ETF in the second quarter valued at about $186,000. Finally, SBI Securities Co. Ltd. increased its position in Direxion Daily META Bull 2X ETF by 17.7% during the third quarter. SBI Securities Co. Ltd. now owns 5,573 shares of the company’s stock worth $171,000 after buying an additional 839 shares in the last quarter.

Direxion Daily META Bull 2X ETF Trading Down 3.2%

Shares of METU stock traded down $0.72 during trading hours on Friday, reaching $21.54. The company’s stock had a trading volume of 4,009,414 shares, compared to its average volume of 4,946,890. Direxion Daily META Bull 2X ETF has a one year low of $16.85 and a one year high of $39.74. The firm’s fifty day simple moving average is $26.49 and its 200 day simple moving average is $26.14. The stock has a market capitalization of $318.15 million, a P/E ratio of 24.62 and a beta of 2.86.

About Direxion Daily META Bull 2X ETF

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.