Direxion Daily META Bull 2X Shares (NASDAQ:METU) Stock Price Down 7.5% – Should You Sell?

Direxion Daily META Bull 2X Shares (NASDAQ:METU) shares were down 7.5% during mid-day trading on Friday . The company traded as low as $25.25 and last traded at $25.52. Approximately 954,091 shares changed hands during trading, a decline of 79% from the average daily volume of 4,585,655 shares. The stock had previously closed at $27.58.

Direxion Daily META Bull 2X Shares Price Performance

The company has a fifty day moving average price of $23.60 and a 200 day moving average price of $27.10. The company has a market cap of $490.14 million, a PE ratio of 24.62 and a beta of 3.21.

Direxion Daily META Bull 2X Shares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd were given a dividend of $0.1432 per share. The ex-dividend date was Tuesday, June 23rd. This represents a $0.57 annualized dividend and a yield of 2.2%.

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

Institutional investors have recently made changes to their positions in the stock. Tactive Advisors LLC raised its position in shares of Direxion Daily META Bull 2X Shares by 65.9% during the 2nd quarter. Tactive Advisors LLC now owns 41,275 shares of the company’s stock valued at $836,000 after buying an additional 16,400 shares in the last quarter. SOA Wealth Advisors LLC. increased its stake in Direxion Daily META Bull 2X Shares by 27.9% in the first quarter. SOA Wealth Advisors LLC. now owns 2,364 shares of the company’s stock valued at $53,000 after acquiring an additional 515 shares during the last quarter. Parallel Advisors LLC raised its position in Direxion Daily META Bull 2X Shares by 50.0% during the first quarter. Parallel Advisors LLC now owns 1,200 shares of the company’s stock valued at $27,000 after purchasing an additional 400 shares in the last quarter. Virtu Financial LLC bought a new stake in Direxion Daily META Bull 2X Shares during the fourth quarter worth about $876,000. Finally, Mcguire Capital Advisors Inc. bought a new stake in Direxion Daily META Bull 2X Shares during the fourth quarter worth about $35,000.

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.