Direxion Daily META Bull 2X Shares (NASDAQ:METU) Shares Down 1.4% – Time to Sell?

Direxion Daily META Bull 2X Shares (NASDAQ:METU) shares fell 1.4% during mid-day trading on Friday . The stock traded as low as $43.04 and last traded at $43.81. 481,034 shares changed hands during trading, a decline of 36% from the average session volume of 756,320 shares. The stock had previously closed at $44.42.

Direxion Daily META Bull 2X Shares Stock Performance

The firm’s 50 day simple moving average is $45.63 and its 200-day simple moving average is $38.26. The company has a market cap of $132.74 million and a price-to-earnings ratio of 24.62.

Direxion Daily META Bull 2X Shares Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 23rd will be given a $0.2229 dividend. This represents a $0.89 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Tuesday, September 23rd.

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

Several institutional investors have recently bought and sold shares of the company. Corient Private Wealth LLC acquired a new position in shares of Direxion Daily META Bull 2X Shares during the second quarter worth about $681,000. HUB Investment Partners LLC acquired a new position in shares of Direxion Daily META Bull 2X Shares during the second quarter worth about $418,000. SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co acquired a new position in shares of Direxion Daily META Bull 2X Shares during the second quarter worth about $345,000. Bank of America Corp DE acquired a new position in shares of Direxion Daily META Bull 2X Shares during the second quarter worth about $244,000. Finally, SOA Wealth Advisors LLC. acquired a new position in shares of Direxion Daily META Bull 2X Shares during the second quarter worth about $59,000.

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.