Direxion Daily MU Bull 2X Shares (NASDAQ:MUU) Trading 11.2% Higher – Still a Buy?

Shares of Direxion Daily MU Bull 2X Shares (NASDAQ:MUU) traded up 11.2% on Monday . The stock traded as high as $225.80 and last traded at $221.49. 878,939 shares changed hands during mid-day trading, a decline of 57% from the average session volume of 2,024,301 shares. The stock had previously closed at $199.22.

Direxion Daily MU Bull 2X Shares Trading Up 8.9%

The firm has a fifty day simple moving average of $181.71 and a 200-day simple moving average of $106.51.

Direxion Daily MU Bull 2X Shares Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 23rd were given a dividend of $0.3775 per share. The ex-dividend date was Tuesday, December 23rd. This represents a $1.51 dividend on an annualized basis and a dividend yield of 0.6%.

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

Hedge funds have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. increased its position in Direxion Daily MU Bull 2X Shares by 25,550.0% in the second quarter. SBI Securities Co. Ltd. now owns 1,026 shares of the company’s stock worth $25,000 after purchasing an additional 1,022 shares during the period. Tower Research Capital LLC TRC boosted its stake 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 valued at $64,000 after purchasing an additional 1,289 shares during the last quarter. Csenge Advisory Group acquired a new stake in shares of Direxion Daily MU Bull 2X Shares during the 4th quarter worth approximately $677,000. Client First Investment Management LLC acquired a new stake in shares of Direxion Daily MU Bull 2X Shares during the 4th quarter worth approximately $883,000. Finally, Citadel Advisors LLC bought a new stake in shares of Direxion Daily MU Bull 2X Shares during the third quarter worth approximately $840,000.

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.