Direxion Daily META Bull 2X ETF (NASDAQ:METU) Stock Short Interest Climbs 118.8%

Direxion Daily META Bull 2X ETF (NASDAQ:METU) was the recipient of a significant growth in short interest during the month of October. As of October 15th, there was short interest totaling 3,199,804 shares, a growth of 118.8% from the September 30th total of 1,462,101 shares. Currently, 24.1% of the company’s stock are short sold. Based on an average daily trading volume, of 3,168,941 shares, the days-to-cover ratio is presently 1.0 days.

Hedge Funds Weigh In On Direxion Daily META Bull 2X ETF

A number of hedge funds have recently modified their holdings of the stock. Bullseye Investment Management LLC acquired a new position in shares of Direxion Daily META Bull 2X ETF in the second quarter valued at $1,125,000. Tactive Advisors LLC increased its position in shares of Direxion Daily META Bull 2X ETF 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 acquiring an additional 16,400 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in Direxion Daily META Bull 2X ETF in the second quarter valued at approximately $186,000. Retirement Planning Co of New England Inc. grew its stake in shares of Direxion Daily META Bull 2X ETF by 7.9% in the third quarter. Retirement Planning Co of New England Inc. now owns 20,425 shares of the company’s stock valued at $626,000 after acquiring an additional 1,487 shares in the last quarter. Finally, SBI Securities Co. Ltd. raised its stake in Direxion Daily META Bull 2X ETF by 17.7% during the third quarter. SBI Securities Co. Ltd. now owns 5,573 shares of the company’s stock worth $171,000 after acquiring an additional 839 shares in the last quarter.

Direxion Daily META Bull 2X ETF Price Performance

NASDAQ:METU traded down $0.72 on Friday, reaching $21.54. The stock had a trading volume of 4,009,414 shares, compared to its average volume of 4,946,890. The firm’s fifty day moving average is $26.49 and its two-hundred day moving average is $26.14. The company has a market cap of $318.15 million, a price-to-earnings ratio of 24.62 and a beta of 2.86. Direxion Daily META Bull 2X ETF has a 12-month low of $16.85 and a 12-month high of $39.74.

About Direxion Daily META Bull 2X ETF

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.