Direxion Daily META Bull 2X ETF (NASDAQ:METU) Sees Unusually-High Trading Volume – Time to Buy?

Shares of Direxion Daily META Bull 2X ETF (NASDAQ:METU) saw unusually-high trading volume on Monday . Approximately 2,969,589 shares changed hands during trading, a decline of 39% from the previous session’s volume of 4,841,991 shares.The stock last traded at $30.2720 and had previously closed at $26.40.

Direxion Daily META Bull 2X ETF Trading Down 1.8%

The company’s 50 day moving average price is $22.71 and its two-hundred day moving average price is $24.21. The stock has a market cap of $561.98 million, a P/E ratio of 24.62 and a beta of 3.21.

Institutional Trading of Direxion Daily META Bull 2X ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. UBS Group AG bought a new stake in shares of Direxion Daily META Bull 2X ETF during the 4th quarter valued at $2,500,000. Bullseye Investment Management LLC bought a new position in Direxion Daily META Bull 2X ETF in the 2nd quarter worth $1,125,000. Virtu Financial LLC bought a new position in Direxion Daily META Bull 2X ETF in the 4th quarter worth $876,000. Tactive Advisors LLC lifted its position in Direxion Daily META Bull 2X ETF by 65.9% during the second quarter. Tactive Advisors LLC now owns 41,275 shares of the company’s stock valued at $836,000 after purchasing an additional 16,400 shares in the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new position in Direxion Daily META Bull 2X ETF during the second quarter valued at $186,000.

Direxion Daily META Bull 2X ETF 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.