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

Direxion Daily META Bull 2X Shares (NASDAQ:METU)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $22.91, but opened at $21.45. Direxion Daily META Bull 2X Shares shares last traded at $22.11, with a volume of 4,255,942 shares traded.

Direxion Daily META Bull 2X Shares Price Performance

The firm has a market capitalization of $542.59 million, a P/E ratio of 24.62 and a beta of 3.21. The firm’s fifty day moving average price is $23.50 and its 200-day moving average price is $27.33.

Direxion Daily META Bull 2X Shares Dividend Announcement

The company also recently declared 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. This represents a $0.57 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Tuesday, June 23rd.

Institutional Trading of Direxion Daily META Bull 2X Shares

A number of hedge funds and other institutional investors have recently modified their holdings of METU. UBS Group AG bought a new position in Direxion Daily META Bull 2X Shares during the fourth quarter valued at about $2,500,000. Tactive Advisors LLC raised its position in Direxion Daily META Bull 2X Shares by 65.9% in the second quarter. Tactive Advisors LLC now owns 41,275 shares of the company’s stock worth $836,000 after acquiring an additional 16,400 shares in the last quarter. Simplex Trading LLC bought a new stake in Direxion Daily META Bull 2X Shares in the fourth quarter worth about $1,290,000. Virtu Financial LLC acquired a new stake in Direxion Daily META Bull 2X Shares in the 4th quarter valued at about $876,000. Finally, OLD Mission Capital LLC acquired a new stake in Direxion Daily META Bull 2X Shares in the 4th quarter valued at about $575,000.

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.