Direxion Daily MU Bull 2X ETF (NASDAQ:MUU) Shares Down 11.1% – Time to Sell?

Direxion Daily MU Bull 2X ETF (NASDAQ:MUU)’s share price dropped 11.1% during trading on Thursday. The stock traded as low as $23.54 and last traded at $23.3250. Approximately 21,834,772 shares traded hands during mid-day trading, a decline of 53% from the average session volume of 46,606,227 shares. The stock had previously closed at $26.23.

Direxion Daily MU Bull 2X ETF Trading Down 12.7%

The business has a 50-day moving average price of $32.06 and a two-hundred day moving average price of $30.74.

Institutional Trading of Direxion Daily MU Bull 2X ETF

Hedge funds and other institutional investors have recently made changes to their positions in the company. Corient Private Wealth LP bought a new stake in shares of Direxion Daily MU Bull 2X ETF in the second quarter worth $523,000. Vestor Capital LLC bought a new position in Direxion Daily MU Bull 2X ETF during the 1st quarter worth $315,000. PFG Investments LLC bought a new position in Direxion Daily MU Bull 2X ETF during the 1st quarter worth $482,000. Diversify Wealth Management LLC acquired a new position in Direxion Daily MU Bull 2X ETF during the 1st quarter worth about $658,000. Finally, Wealth Management Partners LLC acquired a new position in Direxion Daily MU Bull 2X ETF during the 3rd quarter worth about $212,000.

About Direxion Daily MU Bull 2X ETF

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.