Direxion Daily META Bull 2X Shares (NASDAQ:METU) Trading Down 6.4% – Time to Sell?

Shares of Direxion Daily META Bull 2X Shares (NASDAQ:METU) were down 6.4% during trading on Thursday . The company traded as low as $22.92 and last traded at $23.04. Approximately 1,212,684 shares were traded during mid-day trading, a decline of 62% from the average daily volume of 3,207,267 shares. The stock had previously closed at $24.62.

Direxion Daily META Bull 2X Shares Trading Down 14.4%

The company has a fifty day moving average price of $29.97 and a two-hundred day moving average price of $33.86. The firm has a market capitalization of $464.81 million, a price-to-earnings ratio of 24.62 and a beta of 4.09.

Direxion Daily META Bull 2X Shares Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 24th will be paid a dividend of $0.1935 per share. The ex-dividend date of this dividend is Tuesday, March 24th. This represents a $0.77 dividend on an annualized basis and a yield of 3.7%.

Institutional Trading of Direxion Daily META Bull 2X Shares

Several large investors have recently added to or reduced their stakes in the stock. SOA Wealth Advisors LLC. boosted its position in shares of Direxion Daily META Bull 2X Shares by 42.3% during the 4th quarter. SOA Wealth Advisors LLC. now owns 1,849 shares of the company’s stock valued at $59,000 after acquiring an additional 550 shares during the last quarter. Parallel Advisors LLC purchased a new stake in shares of Direxion Daily META Bull 2X Shares in the fourth quarter valued at about $26,000. SRH Advisors LLC acquired a new stake in Direxion Daily META Bull 2X Shares during the fourth quarter worth about $28,000. Summit Securities Group LLC acquired a new stake in Direxion Daily META Bull 2X Shares during the fourth quarter worth about $32,000. Finally, Mcguire Capital Advisors Inc. purchased a new position 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.