Direxion Daily MU Bull 2X ETF (NASDAQ:MUU) Shares Gap Down – Here’s Why

Direxion Daily MU Bull 2X ETF (NASDAQ:MUU) gapped down prior to trading on Thursday. The stock had previously closed at $19.23, but opened at $17.17. Direxion Daily MU Bull 2X ETF shares last traded at $15.3210, with a volume of 11,826,911 shares.

Direxion Daily MU Bull 2X ETF Trading Down 30.2%

The business has a 50-day simple moving average of $30.66 and a 200-day simple moving average of $24.67.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MUU. Gen Wealth Partners Inc purchased a new stake in Direxion Daily MU Bull 2X ETF during the 3rd quarter valued at about $37,000. Parallel Advisors LLC raised its position in Direxion Daily MU Bull 2X ETF by 7,354.5% in the third quarter. Parallel Advisors LLC now owns 1,640 shares of the company’s stock valued at $60,000 after purchasing an additional 1,618 shares during the period. Vestor Capital LLC purchased a new stake in Direxion Daily MU Bull 2X ETF in the third quarter valued at $73,000. Wealth Management Partners LLC acquired a new position in shares of Direxion Daily MU Bull 2X ETF in the 3rd quarter valued at $212,000. Finally, PFG Investments LLC acquired a new position in shares of Direxion Daily MU Bull 2X ETF in the 1st quarter valued at $482,000.

Direxion Daily MU Bull 2X ETF Company Profile

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.