Direxion Daily META Bull 2X Shares (NASDAQ:METU) Shares Up 0.7% – Still a Buy?

Direxion Daily META Bull 2X Shares (NASDAQ:METU)’s share price rose 0.7% on Friday . The stock traded as high as $21.90 and last traded at $21.42. Approximately 3,447,130 shares were traded during mid-day trading, a decline of 25% from the average daily volume of 4,614,688 shares. The stock had previously closed at $21.27.

Direxion Daily META Bull 2X Shares Price Performance

The stock has a market capitalization of $372.71 million, a price-to-earnings ratio of 24.62 and a beta of 3.21. The company’s 50-day simple moving average is $22.70 and its 200-day simple moving average is $26.18.

Direxion Daily META Bull 2X Shares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.7%.

Institutional Trading of Direxion Daily META Bull 2X Shares

Several institutional investors have recently added to or reduced their stakes in the company. HUB Investment Partners LLC bought a new stake in Direxion Daily META Bull 2X Shares in the 2nd quarter valued at $418,000. Bank of America Corp DE bought a new position in Direxion Daily META Bull 2X Shares during the 2nd quarter worth $244,000. Corient Private Wealth LLC acquired a new stake in shares of Direxion Daily META Bull 2X Shares during the second quarter worth $681,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Direxion Daily META Bull 2X Shares during the fourth quarter worth $349,000. Finally, United Advisor Group LLC bought a new stake in shares of Direxion Daily META Bull 2X Shares in the fourth quarter valued at about $288,000.

Direxion Daily META Bull 2X Shares 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.