Direxion Daily META Bull 2X Shares (NASDAQ:METU) Shares Gap Up – What’s Next?

Direxion Daily META Bull 2X Shares (NASDAQ:METU) shares gapped up prior to trading on Thursday . The stock had previously closed at $32.35, but opened at $39.16. Direxion Daily META Bull 2X Shares shares last traded at $37.48, with a volume of 11,584,142 shares changing hands.

Direxion Daily META Bull 2X Shares Price Performance

The company’s 50-day moving average price is $31.04 and its 200-day moving average price is $38.03. The company has a market cap of $885.35 million, a P/E ratio of 24.62 and a beta of 4.09.

Direxion Daily META Bull 2X Shares Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 23rd were issued a $0.209 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.1%. This is a positive change from Direxion Daily META Bull 2X Shares’s previous quarterly dividend of $0.11. The ex-dividend date was Tuesday, December 23rd.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Hoey Investments Inc. lifted its stake in Direxion Daily META Bull 2X Shares by 500.0% in the 4th quarter. Hoey Investments Inc. now owns 3,000 shares of the company’s stock valued at $96,000 after acquiring an additional 2,500 shares in the last quarter. United Advisor Group LLC bought a new stake in shares of Direxion Daily META Bull 2X Shares in the fourth quarter worth $288,000. SRH Advisors LLC acquired a new position in Direxion Daily META Bull 2X Shares during the fourth quarter worth $28,000. SOA Wealth Advisors LLC. grew its position in Direxion Daily META Bull 2X Shares by 42.3% in the fourth quarter. SOA Wealth Advisors LLC. now owns 1,849 shares of the company’s stock valued at $59,000 after purchasing an additional 550 shares in the last quarter. Finally, Tactive Advisors LLC acquired a new stake in Direxion Daily META Bull 2X Shares in the 4th quarter valued at $478,000.

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.