Direxion Daily META Bull 2X Shares (NASDAQ:METU) Shares Down 7.5% – Here’s Why

Direxion Daily META Bull 2X Shares (NASDAQ:METU)’s stock price traded down 7.5% during mid-day trading on Friday . The company traded as low as $25.25 and last traded at $25.52. 954,091 shares changed hands during trading, a decline of 79% from the average session volume of 4,585,655 shares. The stock had previously closed at $27.58.

Direxion Daily META Bull 2X Shares Trading Down 10.0%

The company has a market capitalization of $496.40 million, a price-to-earnings ratio of 24.62 and a beta of 3.21. The firm’s 50-day moving average price is $23.57 and its 200 day moving average price is $27.11.

Direxion Daily META Bull 2X Shares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd were paid a dividend of $0.1432 per share. The ex-dividend date was Tuesday, June 23rd. This represents a $0.57 annualized dividend and a yield of 2.3%.

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

Several hedge funds and other institutional investors have recently modified their holdings of the business. Parallel Advisors LLC lifted its position in shares of Direxion Daily META Bull 2X Shares by 50.0% during the 1st quarter. Parallel Advisors LLC now owns 1,200 shares of the company’s stock worth $27,000 after buying an additional 400 shares during the last quarter. SOA Wealth Advisors LLC. grew its position in Direxion Daily META Bull 2X Shares by 27.9% in the first quarter. SOA Wealth Advisors LLC. now owns 2,364 shares of the company’s stock valued at $53,000 after acquiring an additional 515 shares during the last quarter. SRH Advisors LLC bought a new position in shares of Direxion Daily META Bull 2X Shares in the fourth quarter worth about $28,000. Summit Securities Group LLC bought a new position in shares of Direxion Daily META Bull 2X Shares in the fourth quarter worth about $32,000. Finally, Mcguire Capital Advisors Inc. acquired a new stake in shares of Direxion Daily META Bull 2X Shares in the 4th quarter valued at approximately $35,000.

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.