Direxion Daily META Bull 2X Shares (NASDAQ:METU) Shares Gap Down – Should You Sell?

Direxion Daily META Bull 2X Shares (NASDAQ:METU)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $28.72, but opened at $27.44. Direxion Daily META Bull 2X Shares shares last traded at $27.61, with a volume of 2,234,558 shares changing hands.

Direxion Daily META Bull 2X Shares Stock Down 7.7%

The stock has a 50 day simple moving average of $30.72 and a 200 day simple moving average of $34.89. The company has a market cap of $584.33 million, a price-to-earnings ratio of 24.62 and a beta of 4.09.

Direxion Daily META Bull 2X Shares Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Tuesday, December 23rd were issued a dividend of $0.209 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Tuesday, December 23rd. This is an increase from Direxion Daily META Bull 2X Shares’s previous quarterly dividend of $0.11.

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

Institutional investors and hedge funds have recently bought and sold shares of the stock. Parallel Advisors LLC acquired a new stake in Direxion Daily META Bull 2X Shares in the fourth quarter valued at approximately $26,000. SRH Advisors LLC acquired a new position in shares of Direxion Daily META Bull 2X Shares during the fourth quarter worth $28,000. Summit Securities Group LLC acquired a new position in shares of Direxion Daily META Bull 2X Shares during the fourth quarter worth $32,000. SBI Securities Co. Ltd. boosted its stake in shares of Direxion Daily META Bull 2X Shares by 36,550.0% in the second 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 period. Finally, Mcguire Capital Advisors Inc. purchased a new position in shares of Direxion Daily META Bull 2X Shares in the fourth quarter valued at $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.