Direxion Daily META Bull 2X ETF (NASDAQ:METU) Shares Shorted: Short Interest Down 75.4% in September

Direxion Daily META Bull 2X ETF (NASDAQ:METU) saw a large decline in short interest in September. As of September 30th, there was short interest totaling 1,462,101 shares, a decline of 75.4% from the September 15th total of 5,947,664 shares. Approximately 8.5% of the company’s shares are short sold. Based on an average trading volume of 6,649,453 shares, the days-to-cover ratio is presently 0.2 days.

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

Several hedge funds and other institutional investors have recently bought and sold shares of METU. Bullseye Investment Management LLC acquired a new position in shares of Direxion Daily META Bull 2X ETF during the second quarter valued at about $1,125,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Direxion Daily META Bull 2X ETF in the 2nd quarter valued at about $186,000. Tactive Advisors LLC increased its position in 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 buying an additional 16,400 shares in the last quarter. SOA Wealth Advisors LLC. increased its position in Direxion Daily META Bull 2X ETF by 27.9% in the 1st quarter. SOA Wealth Advisors LLC. now owns 2,364 shares of the company’s stock valued at $53,000 after buying an additional 515 shares in the last quarter. Finally, Parallel Advisors LLC increased its position in Direxion Daily META Bull 2X ETF by 50.0% in the 1st quarter. Parallel Advisors LLC now owns 1,200 shares of the company’s stock valued at $27,000 after buying an additional 400 shares in the last quarter.

Direxion Daily META Bull 2X ETF Price Performance

Shares of Direxion Daily META Bull 2X ETF stock traded up $1.75 during trading on Tuesday, reaching $33.70. 4,400,791 shares of the company traded hands, compared to its average volume of 4,888,451. Direxion Daily META Bull 2X ETF has a 1-year low of $16.85 and a 1-year high of $44.89. The company has a 50 day moving average price of $24.98 and a 200-day moving average price of $24.58. The firm has a market capitalization of $566.09 million, a PE 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.