Direxion Daily META Bull 2X Shares (NASDAQ:METU) Shares Up 7.5% – Still a Buy?

Direxion Daily META Bull 2X Shares (NASDAQ:METU)’s share price rose 7.5% during mid-day trading on Tuesday . The stock traded as high as $24.46 and last traded at $24.45. Approximately 7,196,404 shares changed hands during trading, an increase of 62% from the average session volume of 4,450,862 shares. The stock had previously closed at $22.75.

Direxion Daily META Bull 2X Shares Trading Up 4.3%

The business’s 50-day simple moving average is $23.50 and its two-hundred day simple moving average is $27.33. The company has a market capitalization of $543.73 million, a PE ratio of 24.62 and a beta of 3.21.

Direxion Daily META Bull 2X Shares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd were issued a $0.1432 dividend. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $0.57 dividend on an annualized basis and a yield of 2.4%.

Institutional Investors Weigh In On Direxion Daily META Bull 2X Shares

Several hedge funds and other institutional investors have recently bought and sold shares of METU. Virtu Financial LLC bought a new position in shares of Direxion Daily META Bull 2X Shares during the fourth quarter valued at approximately $876,000. UBS Group AG bought a new stake in shares of Direxion Daily META Bull 2X Shares in the 4th quarter worth approximately $2,500,000. Parallel Advisors LLC boosted its position in Direxion Daily META Bull 2X Shares by 50.0% during the 1st quarter. Parallel Advisors LLC now owns 1,200 shares of the company’s stock valued at $27,000 after purchasing an additional 400 shares during the period. HUB Investment Partners LLC bought a new position in Direxion Daily META Bull 2X Shares during the 2nd quarter worth $418,000. Finally, Hollencrest Capital Management grew its stake in Direxion Daily META Bull 2X Shares by 62,500.0% during the 4th quarter. Hollencrest Capital Management now owns 6,260 shares of the company’s stock worth $201,000 after buying an additional 6,250 shares during the last quarter.

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.