Direxion Daily META Bull 2X ETF (NASDAQ:METU) Sees Large Volume Increase – Still a Buy?

Direxion Daily META Bull 2X ETF (NASDAQ:METU) shares saw an uptick in trading volume on Monday . 2,969,589 shares changed hands during mid-day trading, a decline of 39% from the previous session’s volume of 4,841,991 shares.The stock last traded at $30.2720 and had previously closed at $26.40.

Direxion Daily META Bull 2X ETF Trading Up 15.4%

The company has a 50 day moving average price of $22.51 and a 200 day moving average price of $24.19. The company has a market capitalization of $529.93 million, a P/E ratio of 24.62 and a beta of 3.21.

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

Several institutional investors and hedge funds have recently modified their holdings of the stock. Bullseye Investment Management LLC bought a new position in Direxion Daily META Bull 2X ETF in the 2nd quarter valued at about $1,125,000. Integrated Wealth Concepts LLC bought a new position in shares of Direxion Daily META Bull 2X ETF during the second quarter worth approximately $186,000. Tactive Advisors LLC increased its holdings in shares of Direxion Daily META Bull 2X ETF by 65.9% during the second quarter. Tactive Advisors LLC now owns 41,275 shares of the company’s stock worth $836,000 after purchasing an additional 16,400 shares during the period. SOA Wealth Advisors LLC. raised its position in shares of Direxion Daily META Bull 2X ETF by 27.9% in the first quarter. SOA Wealth Advisors LLC. now owns 2,364 shares of the company’s stock valued at $53,000 after buying an additional 515 shares in the last quarter. Finally, Parallel Advisors LLC raised its position 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 buying an additional 400 shares in the last quarter.

About Direxion Daily META Bull 2X ETF

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.