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

Direxion Daily META Bull 2X ETF (NASDAQ:METU) shares gapped up prior to trading on Wednesday . The stock had previously closed at $31.84, but opened at $32.80. Direxion Daily META Bull 2X ETF shares last traded at $32.9880, with a volume of 2,316,461 shares.

Direxion Daily META Bull 2X ETF Stock Performance

The business’s 50 day moving average is $22.71 and its two-hundred day moving average is $24.21. The firm has a market capitalization of $591.80 million, a PE ratio of 24.62 and a beta of 3.21.

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

Several hedge funds have recently made changes to their positions in METU. UBS Group AG purchased a new position in Direxion Daily META Bull 2X ETF during the fourth quarter valued at approximately $2,500,000. Bullseye Investment Management LLC bought a new stake in Direxion Daily META Bull 2X ETF during the 2nd quarter worth approximately $1,125,000. Virtu Financial LLC purchased a new stake in Direxion Daily META Bull 2X ETF in the 4th quarter worth approximately $876,000. Tactive Advisors LLC lifted its stake in Direxion Daily META Bull 2X ETF by 65.9% in the 2nd quarter. Tactive Advisors LLC now owns 41,275 shares of the company’s stock worth $836,000 after purchasing an additional 16,400 shares in the last quarter. Finally, Integrated Wealth Concepts LLC bought a new position in Direxion Daily META Bull 2X ETF in the 2nd quarter valued at $186,000.

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.