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

Key Points

• Short interest in Direxion Daily META Bull 2X Shares (METU) rose by 62.2% in September, reaching a total of 941,800 shares as of September 30th.
• The stock recently traded down 0.3% to $41.88, with a market cap of $284.78 million and a price-to-earnings ratio of 24.62.
• Institutional investors have been actively engaging with METU, with several hedge funds buying new stakes totaling significant investments in the recent quarter.

Direxion Daily META Bull 2X Shares (NASDAQ:METU - ) was the target of a significant increase in short interest in the month of September. As of September 30th, there was short interest totaling 941,800 shares, an increase of 62.2% from the September 15th total of 580,500 shares. Based on an average daily volume of 941,400 shares, the days-to-cover ratio is presently 1.0 days. Based on an average daily volume of 941,400 shares, the days-to-cover ratio is presently 1.0 days.

Direxion Daily META Bull 2X Shares Trading Down 0.3%

Shares of NASDAQ:METU traded down $0.13 on Wednesday, reaching $41.88. 1,469,514 shares of the company were exchanged, compared to its average volume of 878,762. Direxion Daily META Bull 2X Shares has a 1-year low of $20.11 and a 1-year high of $52.12. The company has a 50-day moving average of $44.23 and a 200-day moving average of $39.35. The firm has a market cap of $284.78 million and a price-to-earnings ratio of 24.62.

Direxion Daily META Bull 2X Shares Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 23rd were given a $0.2229 dividend. This represents a $0.89 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Tuesday, September 23rd.

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

A number of institutional investors and hedge funds have recently bought and sold shares of METU. SOA Wealth Advisors LLC. bought a new stake in Direxion Daily META Bull 2X Shares during the 2nd quarter worth $59,000. SBI Securities Co. Ltd. boosted its position in shares of Direxion Daily META Bull 2X Shares by 36,550.0% during the 2nd quarter. SBI Securities Co. Ltd. now owns 733 shares of the company's stock valued at $33,000 after purchasing an additional 731 shares in the last quarter. SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co bought a new stake in shares of Direxion Daily META Bull 2X Shares during the 2nd quarter valued at about $345,000. HUB Investment Partners LLC bought a new stake in shares of Direxion Daily META Bull 2X Shares during the 2nd quarter valued at about $418,000. Finally, Bank of America Corp DE bought a new stake in shares of Direxion Daily META Bull 2X Shares during the 2nd quarter valued at about $244,000.

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.

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