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

Direxion Daily META Bull 2X ETF (NASDAQ:METU)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $32.42, but opened at $31.36. Direxion Daily META Bull 2X ETF shares last traded at $32.6180, with a volume of 2,336,677 shares trading hands.

Direxion Daily META Bull 2X ETF Stock Up 1.6%

The company has a market cap of $573.05 million, a P/E ratio of 24.62 and a beta of 3.21. The firm has a 50 day moving average of $22.62 and a 200-day moving average of $24.21.

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

A number of hedge funds and other institutional investors have recently made changes to their positions in METU. Parallel Advisors LLC raised its holdings in shares of Direxion Daily META Bull 2X ETF by 50.0% in the first quarter. Parallel Advisors LLC now owns 1,200 shares of the company’s stock valued at $27,000 after acquiring an additional 400 shares in the last quarter. SOA Wealth Advisors LLC. grew its holdings in Direxion Daily META Bull 2X ETF by 27.9% during the 1st quarter. SOA Wealth Advisors LLC. now owns 2,364 shares of the company’s stock worth $53,000 after acquiring an additional 515 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in Direxion Daily META Bull 2X ETF during the 2nd quarter valued at about $186,000. Tactive Advisors LLC increased its position in Direxion Daily META Bull 2X ETF by 67.2% during the 1st quarter. Tactive Advisors LLC now owns 24,875 shares of the company’s stock valued at $557,000 after purchasing an additional 10,000 shares during the period. Finally, Virtu Financial LLC purchased a new position in Direxion Daily META Bull 2X ETF during the 4th quarter valued at about $876,000.

Direxion Daily META Bull 2X ETF Company Profile

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.