Direxion Daily MU Bull 2X Shares (NASDAQ:MUU) Shares Gap Up – Still a Buy?

Direxion Daily MU Bull 2X Shares (NASDAQ:MUU)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $503.69, but opened at $538.57. Direxion Daily MU Bull 2X Shares shares last traded at $509.86, with a volume of 862,966 shares changing hands.

Direxion Daily MU Bull 2X Shares Trading Down 8.7%

The firm’s fifty day moving average is $251.36 and its 200 day moving average is $170.36.

Direxion Daily MU Bull 2X Shares Increases Dividend

The company also recently declared 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 yield of 0.6%. The ex-dividend date was Tuesday, March 24th. This is a positive change from Direxion Daily MU Bull 2X Shares’s previous quarterly dividend of $0.38.

Hedge Funds Weigh In On Direxion Daily MU Bull 2X Shares

Several hedge funds have recently added to or reduced their stakes in MUU. SBI Securities Co. Ltd. grew its stake in Direxion Daily MU Bull 2X Shares by 98.0% in the 4th quarter. SBI Securities Co. Ltd. now owns 1,275 shares of the company’s stock worth $128,000 after acquiring an additional 631 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Direxion Daily MU Bull 2X Shares by 95.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,644 shares of the company’s stock worth $64,000 after purchasing an additional 1,289 shares during the period. PFG Investments LLC purchased a new stake in shares of Direxion Daily MU Bull 2X Shares in the 1st quarter worth approximately $482,000. Diversify Wealth Management LLC purchased a new stake in shares of Direxion Daily MU Bull 2X Shares in the 1st quarter worth approximately $658,000. Finally, Spartan Wealth Advisory Services LLC purchased a new stake in shares of Direxion Daily MU Bull 2X Shares in the 1st quarter worth approximately $808,000.

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.