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

Direxion Daily META Bull 2X Shares (NASDAQ:METU)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $25.06, but opened at $27.41. Direxion Daily META Bull 2X Shares shares last traded at $28.09, with a volume of 5,681,186 shares traded.

Direxion Daily META Bull 2X Shares Stock Up 11.9%

The company’s 50 day moving average price is $23.39 and its two-hundred day moving average price is $27.28. The stock has a market cap of $638.14 million, a P/E ratio of 24.62 and a beta of 3.21.

Direxion Daily META Bull 2X Shares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd were issued a dividend of $0.1432 per share. This represents a $0.57 annualized dividend and a yield of 2.0%. The ex-dividend date was Tuesday, June 23rd.

Institutional Investors Weigh In On Direxion Daily META Bull 2X Shares

Hedge funds have recently made changes to their positions in the company. UBS Group AG bought a new position in shares of Direxion Daily META Bull 2X Shares during the 4th quarter worth $2,500,000. Simplex Trading LLC bought a new stake in shares of Direxion Daily META Bull 2X Shares in the fourth quarter valued at about $1,290,000. Virtu Financial LLC purchased a new stake in Direxion Daily META Bull 2X Shares in the fourth quarter worth about $876,000. OLD Mission Capital LLC purchased a new stake in Direxion Daily META Bull 2X Shares in the fourth quarter worth about $575,000. Finally, Tactive Advisors LLC raised its holdings in shares of Direxion Daily META Bull 2X Shares 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 purchasing an additional 16,400 shares in the last quarter.

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.