Direxion Daily META Bull 2X Shares (NASDAQ:METU) Trading 7.5% Higher – What’s Next?

Direxion Daily META Bull 2X Shares (NASDAQ:METU)’s share price shot up 7.5% during mid-day trading on Tuesday . The stock traded as high as $24.46 and last traded at $24.45. Approximately 7,196,404 shares were traded during mid-day trading, an increase of 62% from the average session volume of 4,450,862 shares. The stock had previously closed at $22.75.

Direxion Daily META Bull 2X Shares Stock Up 6.7%

The stock has a market capitalization of $576.90 million, a PE ratio of 24.62 and a beta of 3.21. The business’s 50-day moving average is $23.79 and its two-hundred day moving average is $27.46.

Direxion Daily META Bull 2X Shares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd were given a dividend of $0.1432 per share. The ex-dividend date was Tuesday, June 23rd. This represents a $0.57 dividend on an annualized basis and a dividend yield of 2.4%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of METU. UBS Group AG purchased a new stake in shares of Direxion Daily META Bull 2X Shares in the fourth quarter valued at about $2,500,000. Simplex Trading LLC purchased a new position in shares of Direxion Daily META Bull 2X Shares during the fourth quarter worth about $1,290,000. Virtu Financial LLC acquired a new position in Direxion Daily META Bull 2X Shares in the 4th quarter valued at about $876,000. Tactive Advisors LLC increased its position in Direxion Daily META Bull 2X Shares by 67.2% in the 1st quarter. Tactive Advisors LLC now owns 24,875 shares of the company’s stock valued at $557,000 after acquiring an additional 10,000 shares during the period. Finally, OLD Mission Capital LLC purchased a new stake in Direxion Daily META Bull 2X Shares during the 4th quarter valued at approximately $575,000.

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.