Direxion Daily META Bull 2X Shares (NASDAQ:METU) Shares Gap Up – What’s Next?

Shares of Direxion Daily META Bull 2X Shares (NASDAQ:METU) gapped up before the market opened on Friday . The stock had previously closed at $25.06, but opened at $27.41. Direxion Daily META Bull 2X Shares shares last traded at $28.09, with a volume of 5,681,186 shares trading hands.

Direxion Daily META Bull 2X Shares Trading Up 11.9%

The firm has a market capitalization of $638.14 million, a P/E ratio of 24.62 and a beta of 3.21. The firm has a 50 day moving average price of $23.39 and a 200-day moving average price of $27.28.

Direxion Daily META Bull 2X Shares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd were issued a dividend of $0.1432 per share. This represents a $0.57 annualized dividend and a yield of 2.0%. The ex-dividend date was Tuesday, June 23rd.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. HUB Investment Partners LLC bought a new position in Direxion Daily META Bull 2X Shares during the second quarter valued at $418,000. Bank of America Corp DE purchased a new stake in shares of Direxion Daily META Bull 2X Shares in the second quarter valued at $244,000. Corient Private Wealth LLC bought a new stake in shares of Direxion Daily META Bull 2X Shares in the 2nd quarter worth about $681,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Direxion Daily META Bull 2X Shares in the 4th quarter worth about $349,000. Finally, Tactive Advisors LLC purchased a new position in shares of Direxion Daily META Bull 2X Shares during the 4th quarter worth about $478,000.

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.