Direxion Daily MU Bull 2X Shares (NASDAQ:MUU) Trading Down 9.6% – Here’s What Happened

Direxion Daily MU Bull 2X Shares (NASDAQ:MUU) dropped 9.6% during mid-day trading on Tuesday . The company traded as low as $884.74 and last traded at $908.10. Approximately 2,195,449 shares traded hands during mid-day trading, a decline of 17% from the average daily volume of 2,651,902 shares. The stock had previously closed at $1,004.67.

Direxion Daily MU Bull 2X Shares Stock Down 6.4%

The stock’s fifty day simple moving average is $493.99 and its 200-day simple moving average is $270.31.

Direxion Daily MU Bull 2X Shares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 24th were issued a dividend of $0.6767 per share. This represents a $2.71 annualized dividend and a dividend yield of 0.3%. This is a boost from Direxion Daily MU Bull 2X Shares’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Tuesday, March 24th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MUU. Goldman Sachs Group Inc. purchased a new position in Direxion Daily MU Bull 2X Shares in the first quarter valued at $716,000. Tower Research Capital LLC TRC grew its position in shares of Direxion Daily MU Bull 2X Shares by 95.1% in the second quarter. Tower Research Capital LLC TRC now owns 2,644 shares of the company’s stock valued at $64,000 after purchasing an additional 1,289 shares during the period. Optiver Holding B.V. grew its position in shares of Direxion Daily MU Bull 2X Shares by 166.8% in the third quarter. Optiver Holding B.V. now owns 36,840 shares of the company’s stock valued at $1,528,000 after purchasing an additional 23,032 shares during the period. Citadel Advisors LLC acquired a new stake in shares of Direxion Daily MU Bull 2X Shares in the third quarter valued at about $840,000. Finally, UBS Group AG acquired a new stake in shares of Direxion Daily MU Bull 2X Shares in the fourth quarter valued at about $10,100,000.

About Direxion Daily MU Bull 2X Shares

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.