Direxion Daily MU Bull 2X ETF (NASDAQ:MUU) Stock Falls 8.1% – Should You Sell?

Direxion Daily MU Bull 2X ETF (NASDAQ:MUU) shares fell 8.1% during trading on Friday. The company traded as low as $17.01 and last traded at $16.6670. Approximately 6,336,145 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 45,438,711 shares. The stock had previously closed at $18.13.

Direxion Daily MU Bull 2X ETF Stock Performance

The firm’s 50 day simple moving average is $28.97 and its 200 day simple moving average is $24.87.

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

Hedge funds and other institutional investors have recently made changes to their positions in the business. Corient Private Wealth LP bought a new position in Direxion Daily MU Bull 2X ETF in the 2nd quarter worth $523,000. Gen Wealth Partners Inc bought a new stake in shares of Direxion Daily MU Bull 2X ETF during the 3rd quarter valued at about $37,000. Parallel Advisors LLC boosted its stake in shares of Direxion Daily MU Bull 2X ETF by 7,354.5% during the 3rd quarter. Parallel Advisors LLC now owns 1,640 shares of the company’s stock valued at $60,000 after purchasing an additional 1,618 shares in the last quarter. Vestor Capital LLC bought a new stake in shares of Direxion Daily MU Bull 2X ETF during the 3rd quarter valued at about $73,000. Finally, Diversify Wealth Management LLC purchased a new position in shares of Direxion Daily MU Bull 2X ETF during the first quarter valued at about $658,000.

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.