Direxion Daily META Bull 2X Shares (NASDAQ:METU) Shares Down 2.4% - Should You Sell?

Key Points

• METU shares fell 2.4% in Friday trading, hitting an intraday low of $24.41 and closing at $24.69, below the prior close of $25.31. Trading volume was slightly above average at 3.96 million shares.
• The fund now has a market cap of about $361 million and is trading below both its 50-day moving average of $27.26 and 200-day moving average of $30.32, indicating recent weakness.
• Direxion Daily META Bull 2X Shares recently paid a quarterly dividend of $0.1935 per share, equal to an annualized yield of 3.1%. The ETF offers 2x leveraged exposure to Meta Platforms’ daily share price movement.

Direxion Daily META Bull 2X Shares (NASDAQ:METU - )'s stock price fell 2.4% during mid-day trading on Friday . The company traded as low as $24.41 and last traded at $24.69. 3,962,034 shares traded hands during trading, an increase of 3% from the average session volume of 3,846,337 shares. The stock had previously closed at $25.31.

Direxion Daily META Bull 2X Shares Price Performance

The firm has a market cap of $360.97 million, a price-to-earnings ratio of 24.62 and a beta of 3.17. The stock has a 50-day moving average of $27.26 and a 200-day moving average of $30.32.

Direxion Daily META Bull 2X Shares Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 24th were given a dividend of $0.1935 per share. The ex-dividend date of this dividend was Tuesday, March 24th. This represents a $0.77 dividend on an annualized basis and a yield of 3.1%.

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

A number of large investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC grew its position in Direxion Daily META Bull 2X Shares by 50.0% during the first quarter. Parallel Advisors LLC now owns 1,200 shares of the company's stock worth $27,000 after buying an additional 400 shares in the last quarter. Tactive Advisors LLC boosted its holdings in shares of Direxion Daily META Bull 2X Shares by 67.2% in the 1st quarter. Tactive Advisors LLC now owns 24,875 shares of the company's stock valued at $557,000 after purchasing an additional 10,000 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Direxion Daily META Bull 2X Shares in the 4th quarter valued at $876,000. Mcguire Capital Advisors Inc. acquired a new stake in shares of Direxion Daily META Bull 2X Shares in the 4th quarter valued at $35,000. Finally, Summit Securities Group LLC acquired a new stake in shares of Direxion Daily META Bull 2X Shares in the 4th quarter valued at $32,000.

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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