Direxion Daily META Bull 2X ETF (NASDAQ:METU) Sees Large Decline in Short Interest

Direxion Daily META Bull 2X ETF (NASDAQ:METU) was the target of a significant decline in short interest in the month of September. As of September 30th, there was short interest totaling 1,462,101 shares, a decline of 75.4% from the September 15th total of 5,947,664 shares. Based on an average daily volume of 6,649,453 shares, the short-interest ratio is presently 0.2 days. Approximately 8.5% of the company’s shares are sold short.

Institutional Trading of Direxion Daily META Bull 2X ETF

A number of institutional investors have recently modified their holdings of METU. Bullseye Investment Management LLC acquired a new position in shares of Direxion Daily META Bull 2X ETF during the second quarter worth 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 about $186,000. Tactive Advisors LLC raised its position 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 valued at $836,000 after buying an additional 16,400 shares during the last quarter. SOA Wealth Advisors LLC. raised its position in Direxion Daily META Bull 2X ETF by 27.9% in the 1st 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 during the last quarter. Finally, Parallel Advisors LLC lifted its stake in Direxion Daily META Bull 2X ETF by 50.0% in the 1st quarter. Parallel Advisors LLC now owns 1,200 shares of the company’s stock valued at $27,000 after acquiring an additional 400 shares in the last quarter.

Direxion Daily META Bull 2X ETF Stock Up 6.7%

Shares of Direxion Daily META Bull 2X ETF stock traded up $2.02 during trading on Monday, reaching $31.95. 5,563,924 shares of the company were exchanged, compared to its average volume of 4,890,985. The business has a 50-day moving average price of $24.77 and a 200-day moving average price of $24.53. The firm has a market capitalization of $536.76 million, a price-to-earnings ratio of 24.62 and a beta of 2.86. Direxion Daily META Bull 2X ETF has a twelve month low of $16.85 and a twelve month high of $44.89.

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.