Direxion Daily META Bull 2X Shares (NASDAQ:METU) Stock Price Up 7.1% – Should You Buy?

Direxion Daily META Bull 2X Shares (NASDAQ:METU) shares shot up 7.1% during trading on Wednesday . The stock traded as high as $29.40 and last traded at $29.28. 4,414,118 shares traded hands during 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 Down 4.9%

The company has a 50-day moving average of $23.57 and a 200-day moving average of $27.11. The company has a market capitalization of $551.60 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 disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd were given a $0.1432 dividend. This represents a $0.57 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Tuesday, June 23rd.

Institutional Trading of Direxion Daily META Bull 2X Shares

Several large investors have recently bought and sold shares of the stock. Tactive Advisors LLC raised its holdings in shares of Direxion Daily META Bull 2X Shares by 65.9% in the second quarter. Tactive Advisors LLC now owns 41,275 shares of the company’s stock worth $836,000 after buying an additional 16,400 shares during the last quarter. SOA Wealth Advisors LLC. increased its position in shares of Direxion Daily META Bull 2X Shares 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 acquiring an additional 515 shares during the period. Parallel Advisors LLC increased its position in shares of Direxion Daily META Bull 2X Shares 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 acquiring an additional 400 shares during the period. Virtu Financial LLC purchased a new position in Direxion Daily META Bull 2X Shares in the 4th quarter worth $876,000. Finally, Mcguire Capital Advisors Inc. purchased a new position in Direxion Daily META Bull 2X Shares in the 4th quarter worth $35,000.

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.