Direxion Daily MU Bull 2X ETF (NASDAQ:MUU) Stock Price Down 7.5% – Here’s Why

Direxion Daily MU Bull 2X ETF (NASDAQ:MUU) fell 7.5% during mid-day trading on Thursday. The company traded as low as $27.39 and last traded at $27.7330. Approximately 9,081,079 shares changed hands during trading, a decline of 80% from the average session volume of 46,028,773 shares. The stock had previously closed at $29.98.

Direxion Daily MU Bull 2X ETF Price Performance

The stock’s fifty day moving average is $31.39 and its two-hundred day moving average is $24.27.

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

A number of institutional investors have recently made changes to their positions in the business. Dedeker Financial LLC lifted its holdings in shares of Direxion Daily MU Bull 2X ETF by 1,919.7% during the third quarter. Dedeker Financial LLC now owns 111,122 shares of the company’s stock valued at $4,092,000 after acquiring an additional 105,620 shares during the period. Hoey Investments Inc. grew its stake in shares of Direxion Daily MU Bull 2X ETF by 6,280.7% during the 3rd quarter. Hoey Investments Inc. now owns 99,730 shares of the company’s stock worth $3,672,000 after acquiring an additional 98,167 shares in the last quarter. MGO One Seven LLC increased its holdings in Direxion Daily MU Bull 2X ETF by 1,928.0% during the third quarter. MGO One Seven LLC now owns 82,257 shares of the company’s stock worth $3,029,000 after buying an additional 78,201 shares during the last quarter. Silverleafe Capital Partners LLC bought a new position in shares of Direxion Daily MU Bull 2X ETF in the third quarter valued at about $939,000. Finally, Intrua Financial LLC lifted its holdings in shares of Direxion Daily MU Bull 2X ETF by 4,560.0% during the third quarter. Intrua Financial LLC now owns 23,300 shares of the company’s stock worth $858,000 after buying an additional 22,800 shares in the last quarter.

About Direxion Daily MU Bull 2X ETF

The Direxion Daily MU Bull 2X Shares (MUU) is an exchange-traded fund that mostly invests in information technology equity. The fund provides 2x leveraged exposure, less fees and expenses, to the daily price movement for shares of Micron Technology, Inc stock. MUU was launched on Oct 10, 2024 and is issued by Direxion.