Direxion Daily META Bull 2X Shares (NASDAQ:METU) Shares Down 10.9% – Should You Sell?

Shares of Direxion Daily META Bull 2X Shares (NASDAQ:METU) were down 10.9% during mid-day trading on Wednesday . The company traded as low as $20.79 and last traded at $20.84. Approximately 6,036,370 shares changed hands during trading, an increase of 41% from the average daily volume of 4,296,318 shares. The stock had previously closed at $23.39.

Direxion Daily META Bull 2X Shares Price Performance

The business’s 50 day simple moving average is $25.79 and its two-hundred day simple moving average is $28.39. The stock has a market cap of $314.62 million, a P/E ratio of 24.62 and a beta of 3.07.

Direxion Daily META Bull 2X Shares Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 24th were given a $0.1935 dividend. The ex-dividend date was Tuesday, March 24th. This represents a $0.77 annualized dividend and a yield of 3.6%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. UBS Group AG bought a new position in shares of Direxion Daily META Bull 2X Shares during the fourth quarter valued at $2,500,000. Parallel Advisors LLC grew its position in shares of Direxion Daily META Bull 2X Shares by 50.0% in the 1st quarter. Parallel Advisors LLC now owns 1,200 shares of the company’s stock valued at $27,000 after buying an additional 400 shares during the last quarter. Tactive Advisors LLC increased its stake in shares of Direxion Daily META Bull 2X Shares by 67.2% in the first quarter. Tactive Advisors LLC now owns 24,875 shares of the company’s stock valued at $557,000 after buying an additional 10,000 shares during the period. Virtu Financial LLC acquired a new stake in shares of Direxion Daily META Bull 2X Shares in the fourth quarter valued at about $876,000. Finally, Prosperitas Financial LLC bought a new position in shares of Direxion Daily META Bull 2X Shares during the fourth quarter worth about $286,000.

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.