Direxion Daily MU Bull 2X Shares (NASDAQ:MUU) Trading 6.4% Higher – Should You Buy?

Direxion Daily MU Bull 2X Shares (NASDAQ:MUU)’s stock price shot up 6.4% during mid-day trading on Thursday . The stock traded as high as $30.45 and last traded at $30.35. Approximately 13,976,125 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 53,291,527 shares. The stock had previously closed at $28.53.

Direxion Daily MU Bull 2X Shares Stock Performance

The business has a 50 day moving average of $37.03 and a 200 day moving average of $22.69.

Direxion Daily MU Bull 2X Shares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd were issued a dividend of $0.1024 per share. The ex-dividend date was Tuesday, June 23rd. This represents a $0.41 dividend on an annualized basis and a dividend yield of 1.3%.

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

Institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC grew its stake in 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 worth $64,000 after acquiring an additional 1,289 shares during the period. SBI Securities Co. Ltd. increased its stake in Direxion Daily MU Bull 2X Shares by 98.0% in the fourth quarter. SBI Securities Co. Ltd. now owns 1,275 shares of the company’s stock valued at $128,000 after purchasing an additional 631 shares during the last quarter. Vestor Capital LLC purchased a new position in Direxion Daily MU Bull 2X Shares during the first quarter worth about $315,000. PFG Investments LLC purchased a new position in Direxion Daily MU Bull 2X Shares during the first quarter worth about $482,000. Finally, Diversify Wealth Management LLC purchased a new position in Direxion Daily MU Bull 2X Shares during the first quarter worth about $658,000.

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.