Direxion Daily META Bull 2X Shares (NASDAQ:METU) Trading Up 7.1% – Here’s What Happened

Direxion Daily META Bull 2X Shares (NASDAQ:METU)’s stock price were up 7.1% on Wednesday . The stock traded as high as $29.40 and last traded at $29.28. 4,414,118 shares changed hands during trading, a decline of 4% from the average session volume of 4,596,822 shares. The stock had previously closed at $27.33.

Direxion Daily META Bull 2X Shares Stock Performance

The stock has a market capitalization of $570.20 million, a price-to-earnings ratio of 24.62 and a beta of 3.21. The firm has a fifty day moving average of $23.45 and a 200-day moving average of $27.17.

Direxion Daily META Bull 2X Shares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd were paid a $0.1432 dividend. The ex-dividend date was Tuesday, June 23rd. This represents a $0.57 dividend on an annualized basis and a dividend yield of 2.0%.

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

Several hedge funds and other institutional investors have recently bought and sold shares of METU. Parallel Advisors LLC acquired a new stake in Direxion Daily META Bull 2X Shares in the fourth quarter valued at approximately $26,000. SRH Advisors LLC acquired a new stake in Direxion Daily META Bull 2X Shares during the 4th quarter valued at $28,000. Summit Securities Group LLC purchased a new stake in Direxion Daily META Bull 2X Shares during the 4th quarter worth $32,000. Mcguire Capital Advisors Inc. acquired a new position in Direxion Daily META Bull 2X Shares in the 4th quarter worth $35,000. Finally, SOA Wealth Advisors LLC. lifted its holdings in Direxion Daily META Bull 2X Shares by 42.3% in the 4th quarter. SOA Wealth Advisors LLC. now owns 1,849 shares of the company’s stock worth $59,000 after buying an additional 550 shares in the last quarter.

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.