Direxion Daily MU Bull 2X Shares (NASDAQ:MUU) Stock Price Up 7.3% – Still a Buy?

Direxion Daily MU Bull 2X Shares (NASDAQ:MUU) rose 7.3% during trading on Wednesday . The stock traded as high as $639.90 and last traded at $609.60. Approximately 1,366,857 shares were traded during mid-day trading, a decline of 44% from the average daily volume of 2,444,948 shares. The stock had previously closed at $568.35.

Direxion Daily MU Bull 2X Shares Trading Down 7.0%

The stock’s 50-day simple moving average is $244.87 and its two-hundred day simple moving average is $167.30.

Direxion Daily MU Bull 2X Shares Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 24th were paid a dividend of $0.6767 per share. This is an increase from Direxion Daily MU Bull 2X Shares’s previous quarterly dividend of $0.38. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Tuesday, March 24th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC increased its stake in Direxion Daily MU Bull 2X Shares by 95.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,644 shares of the company’s stock worth $64,000 after buying an additional 1,289 shares in the last quarter. SBI Securities Co. Ltd. lifted its position in shares of Direxion Daily MU Bull 2X Shares by 98.0% in the fourth quarter. SBI Securities Co. Ltd. now owns 1,275 shares of the company’s stock valued at $128,000 after acquiring an additional 631 shares in the last quarter. PFG Investments LLC acquired a new stake in shares of Direxion Daily MU Bull 2X Shares in the first quarter worth approximately $482,000. Diversify Wealth Management LLC purchased a new stake in shares of Direxion Daily MU Bull 2X Shares during the first quarter worth approximately $658,000. Finally, Csenge Advisory Group purchased a new stake in shares of Direxion Daily MU Bull 2X Shares during the fourth quarter worth approximately $677,000.

Direxion Daily MU Bull 2X Shares Company Profile

The Direxion Daily MU Bull 2X Shares (MUU) is an exchange-traded fund that mostly invests in information technology equity. The fund provides 2x leveraged exposure, less fees and expenses, to the daily price movement for shares of Micron Technology, Inc stock. MUU was launched on Oct 10, 2024 and is issued by Direxion.