Direxion Daily META Bull 2X Shares (NASDAQ:METU) Shares Down 7.5% – Here’s Why

Direxion Daily META Bull 2X Shares (NASDAQ:METU)’s stock price traded down 7.5% during trading on Friday . The stock traded as low as $25.25 and last traded at $25.52. 954,091 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 4,585,655 shares. The stock had previously closed at $27.58.

Direxion Daily META Bull 2X Shares Stock Down 10.0%

The business’s 50 day simple moving average is $23.57 and its two-hundred day simple moving average is $27.11. The stock has a market cap of $496.40 million, a P/E ratio of 24.62 and a beta of 3.21.

Direxion Daily META Bull 2X Shares Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $0.57 annualized dividend and a dividend yield of 2.3%.

Institutional Investors Weigh In On Direxion Daily META Bull 2X Shares

A number of hedge funds and other institutional investors have recently bought and sold shares of METU. UBS Group AG acquired a new position in Direxion Daily META Bull 2X Shares in the 4th quarter worth about $2,500,000. Simplex Trading LLC acquired a new stake in shares of Direxion Daily META Bull 2X Shares during the fourth quarter valued at about $1,290,000. Virtu Financial LLC bought a new stake in shares of Direxion Daily META Bull 2X Shares during the fourth quarter worth about $876,000. OLD Mission Capital LLC bought a new stake in shares of Direxion Daily META Bull 2X Shares during the fourth quarter worth about $575,000. Finally, Tactive Advisors LLC increased its stake in shares of Direxion Daily META Bull 2X Shares by 65.9% in the second quarter. Tactive Advisors LLC now owns 41,275 shares of the company’s stock valued at $836,000 after buying an additional 16,400 shares during the period.

About Direxion Daily META Bull 2X Shares

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.