Direxion Daily MU Bull 2X Shares (NASDAQ:MUU) Trading Down 9.1% – Should You Sell?

Shares of Direxion Daily MU Bull 2X Shares (NASDAQ:MUU) traded down 9.1% on Thursday . The stock traded as low as $181.88 and last traded at $188.71. 1,300,386 shares were traded during mid-day trading, a decline of 36% from the average session volume of 2,042,345 shares. The stock had previously closed at $207.63.

Direxion Daily MU Bull 2X Shares Stock Down 8.2%

The company has a 50 day simple moving average of $158.61 and a 200-day simple moving average of $89.84.

Direxion Daily MU Bull 2X Shares Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Tuesday, December 23rd were paid a $0.3775 dividend. The ex-dividend date of this dividend was Tuesday, December 23rd. This represents a $1.51 annualized dividend and a yield of 0.8%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. UBS Group AG bought a new position in shares of Direxion Daily MU Bull 2X Shares in the 4th quarter worth $10,100,000. Goldman Sachs Group Inc. purchased a new position in shares of Direxion Daily MU Bull 2X Shares in the 1st quarter worth approximately $716,000. Vestor Capital LLC purchased a new stake in shares of Direxion Daily MU Bull 2X Shares during the 2nd quarter valued at $1,188,000. Optiver Holding B.V. raised its position in Direxion Daily MU Bull 2X Shares by 166.8% in the third quarter. Optiver Holding B.V. now owns 36,840 shares of the company’s stock worth $1,528,000 after acquiring an additional 23,032 shares during the period. Finally, Belvedere Trading LLC bought a new stake in shares of Direxion Daily MU Bull 2X Shares in the 3rd quarter worth approximately $844,000.

About Direxion Daily MU Bull 2X Shares

The Direxion Daily MU Bull 2X Shares (MUU) is an exchange-traded fund that mostly invests in information technology equity. The fund provides 2x leveraged exposure, less fees and expenses, to the daily price movement for shares of Micron Technology, Inc stock. MUU was launched on Oct 10, 2024 and is issued by Direxion.