Direxion Daily META Bull 2X Shares (NASDAQ:METU) Stock Price Down 5.6% – Here’s Why

Direxion Daily META Bull 2X Shares (NASDAQ:METU)’s stock price fell 5.6% during trading on Monday . The stock traded as low as $28.74 and last traded at $28.87. 1,418,436 shares were traded during trading, a decline of 62% from the average session volume of 3,743,315 shares. The stock had previously closed at $30.58.

Direxion Daily META Bull 2X Shares Stock Performance

The company has a market cap of $636.58 million, a price-to-earnings ratio of 24.62 and a beta of 4.09. The stock’s fifty day moving average is $31.43 and its two-hundred day moving average is $36.52.

Direxion Daily META Bull 2X Shares Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 23rd were issued a $0.209 dividend. This is a boost from Direxion Daily META Bull 2X Shares’s previous quarterly dividend of $0.11. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Tuesday, December 23rd.

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

Several large investors have recently bought and sold shares of the stock. Parallel Advisors LLC purchased a new position in Direxion Daily META Bull 2X Shares during the 4th quarter worth $26,000. SRH Advisors LLC purchased a new position in Direxion Daily META Bull 2X Shares during the fourth quarter worth about $28,000. Summit Securities Group LLC bought a new stake in Direxion Daily META Bull 2X Shares in the 4th quarter worth about $32,000. SBI Securities Co. Ltd. grew its position in Direxion Daily META Bull 2X Shares by 36,550.0% in the 2nd quarter. SBI Securities Co. Ltd. now owns 733 shares of the company’s stock worth $33,000 after purchasing an additional 731 shares in the last quarter. Finally, Mcguire Capital Advisors Inc. purchased a new stake in Direxion Daily META Bull 2X Shares in the 4th quarter valued at about $35,000.

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.