Direxion Daily MU Bull 2X Shares (NASDAQ:MUU) Trading 7% Higher – Time to Buy?

Direxion Daily MU Bull 2X Shares (NASDAQ:MUU)’s stock price shot up 7% during mid-day trading on Friday . The company traded as high as $243.37 and last traded at $239.76. 666,342 shares traded hands during trading, a decline of 61% from the average session volume of 1,723,014 shares. The stock had previously closed at $224.11.

Direxion Daily MU Bull 2X Shares Stock Performance

The stock has a 50 day moving average price of $113.73 and a two-hundred day moving average price of $66.64.

Direxion Daily MU Bull 2X Shares Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 23rd were issued a dividend of $0.3775 per share. The ex-dividend date of this dividend was Tuesday, December 23rd. This represents a $1.51 dividend on an annualized basis and a dividend yield of 0.7%.

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

A number of hedge funds have recently bought and sold shares of the business. UBS Group AG acquired a new stake in Direxion Daily MU Bull 2X Shares in the 4th quarter worth about $10,100,000. Goldman Sachs Group Inc. acquired a new stake in shares of Direxion Daily MU Bull 2X Shares in the first quarter valued at approximately $716,000. Vestor Capital LLC bought a new stake in shares of Direxion Daily MU Bull 2X Shares in the second quarter valued at approximately $1,188,000. Optiver Holding B.V. grew its position in Direxion Daily MU Bull 2X Shares by 166.8% during the third quarter. Optiver Holding B.V. now owns 36,840 shares of the company’s stock worth $1,528,000 after buying an additional 23,032 shares in the last quarter. Finally, Belvedere Trading LLC acquired a new stake in Direxion Daily MU Bull 2X Shares during the third quarter worth approximately $844,000.

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.