Direxion Daily META Bull 2X Shares (NASDAQ:METU) Trading Up 1.1% – Still a Buy?

Shares of Direxion Daily META Bull 2X Shares (NASDAQ:METU) were up 1.1% on Friday . The stock traded as high as $42.86 and last traded at $42.54. Approximately 1,705,545 shares traded hands during trading, an increase of 92% from the average daily volume of 887,865 shares. The stock had previously closed at $42.09.

Direxion Daily META Bull 2X Shares Trading Up 1.1%

The company has a market capitalization of $282.04 million and a PE ratio of 24.62. The firm has a fifty day moving average of $43.79 and a two-hundred day moving average of $39.62.

Direxion Daily META Bull 2X Shares Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 23rd were given a dividend of $0.2229 per share. The ex-dividend date of this dividend was Tuesday, September 23rd. This represents a $0.89 dividend on an annualized basis and a yield of 2.1%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. SBI Securities Co. Ltd. raised its position in Direxion Daily META Bull 2X Shares by 36,550.0% during the 2nd quarter. SBI Securities Co. Ltd. now owns 733 shares of the company’s stock valued at $33,000 after purchasing an additional 731 shares during the last quarter. SOA Wealth Advisors LLC. bought a new position in Direxion Daily META Bull 2X Shares during the 2nd quarter valued at approximately $59,000. Bank of America Corp DE bought a new position in Direxion Daily META Bull 2X Shares during the 2nd quarter valued at approximately $244,000. SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co bought a new position in Direxion Daily META Bull 2X Shares during the 2nd quarter valued at approximately $345,000. Finally, HUB Investment Partners LLC bought a new position in Direxion Daily META Bull 2X Shares during the 2nd quarter valued at approximately $418,000.

About Direxion Daily META Bull 2X Shares

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.