Direxion Daily META Bull 2X Shares (NASDAQ:METU) Sees Large Volume Increase – Here’s Why

Direxion Daily META Bull 2X Shares (NASDAQ:METU) shares saw unusually-high trading volume on Thursday . 2,790,709 shares changed hands during mid-day trading, a decline of 37% from the previous session’s volume of 4,398,975 shares.The stock last traded at $22.40 and had previously closed at $23.82.

Direxion Daily META Bull 2X Shares Price Performance

The company has a market cap of $505.01 million, a price-to-earnings ratio of 24.62 and a beta of 3.21. The business’s fifty day simple moving average is $23.93 and its two-hundred day simple moving average is $27.55.

Direxion Daily META Bull 2X Shares Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd were given a $0.1432 dividend. This represents a $0.57 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Tuesday, June 23rd.

Institutional Investors Weigh In On Direxion Daily META Bull 2X Shares

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Parallel Advisors LLC acquired a new position in Direxion Daily META Bull 2X Shares in the fourth quarter valued at $26,000. SRH Advisors LLC acquired a new stake in shares of Direxion Daily META Bull 2X Shares during the fourth quarter worth about $28,000. Summit Securities Group LLC acquired a new stake in shares of Direxion Daily META Bull 2X Shares during the fourth quarter worth about $32,000. Mcguire Capital Advisors Inc. purchased a new stake in shares of Direxion Daily META Bull 2X Shares in the 4th quarter valued at about $35,000. Finally, SOA Wealth Advisors LLC. lifted its holdings in shares of 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 valued at $59,000 after purchasing an additional 550 shares during 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.