Direxion Daily META Bull 2X ETF (NASDAQ:METU) Shares Shorted: Short Interest Up 118.8% in October

Direxion Daily META Bull 2X ETF (NASDAQ:METU) was the target of a significant growth in short interest in the month of October. As of October 15th, there was short interest totaling 3,199,804 shares, a growth of 118.8% from the September 30th total of 1,462,101 shares. Based on an average trading volume of 3,168,941 shares, the days-to-cover ratio is currently 1.0 days. Currently, 24.1% of the company’s stock are sold short.

Direxion Daily META Bull 2X ETF Trading Down 3.2%

NASDAQ:METU traded down $0.72 during midday trading on Friday, reaching $21.54. The company had a trading volume of 4,058,346 shares, compared to its average volume of 4,947,146. The firm has a market capitalization of $318.15 million, a price-to-earnings ratio of 24.62 and a beta of 2.86. The stock’s fifty day simple moving average is $26.56 and its 200-day simple moving average is $26.09. Direxion Daily META Bull 2X ETF has a 12-month low of $16.85 and a 12-month high of $39.74.

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

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bullseye Investment Management LLC purchased a new stake in shares of Direxion Daily META Bull 2X ETF during the second quarter worth approximately $1,125,000. SBI Securities Co. Ltd. lifted its stake in Direxion Daily META Bull 2X ETF by 17.7% in the third quarter. SBI Securities Co. Ltd. now owns 5,573 shares of the company’s stock worth $171,000 after acquiring an additional 839 shares during the last quarter. Retirement Planning Co of New England Inc. lifted its stake in Direxion Daily META Bull 2X ETF by 7.9% in the third quarter. Retirement Planning Co of New England Inc. now owns 20,425 shares of the company’s stock worth $626,000 after acquiring an additional 1,487 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in Direxion Daily META Bull 2X ETF during the 2nd quarter worth approximately $186,000. Finally, Tactive Advisors LLC grew its holdings in Direxion Daily META Bull 2X ETF by 65.9% during the 2nd quarter. Tactive Advisors LLC now owns 41,275 shares of the company’s stock worth $836,000 after acquiring an additional 16,400 shares in the last quarter.

Direxion Daily META Bull 2X ETF 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.