Direxion Daily META Bull 2X Shares (NASDAQ:METU) Shares Up 1.5% – Should You Buy?

Direxion Daily META Bull 2X Shares (NASDAQ:METU) shot up 1.5% on Thursday . The stock traded as high as $31.07 and last traded at $31.00. 3,361,815 shares changed hands during mid-day trading, a decline of 7% from the average session volume of 3,626,589 shares. The stock had previously closed at $30.55.

Direxion Daily META Bull 2X Shares Stock Up 3.4%

The company has a 50 day moving average of $27.65 and a 200 day moving average of $31.45. The firm has a market cap of $472.10 million, a price-to-earnings ratio of 24.62 and a beta of 4.08.

Direxion Daily META Bull 2X Shares Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 24th were paid a $0.1935 dividend. The ex-dividend date was Tuesday, March 24th. This represents a $0.77 annualized dividend and a dividend yield of 2.4%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. SOA Wealth Advisors LLC. lifted its stake in shares of 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 worth $59,000 after acquiring an additional 550 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Direxion Daily META Bull 2X Shares in the fourth quarter worth about $349,000. OLD Mission Capital LLC acquired a new position in shares of Direxion Daily META Bull 2X Shares in the fourth quarter worth about $575,000. Simplex Trading LLC acquired a new position in shares of Direxion Daily META Bull 2X Shares in the fourth quarter worth about $1,290,000. Finally, Corient Private Wealth LLC acquired a new position in shares of Direxion Daily META Bull 2X Shares in the second quarter worth about $681,000.

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.