Direxion Daily META Bull 2X Shares (NASDAQ:METU) Shares Down 2.6% - What's Next?

Key Points

• Direxion Daily META Bull 2X Shares (NASDAQ:METU) experienced a 2.6% decline in stock price, trading as low as $49.00, with a significant drop in volume of 23% from average daily trading.
• The company announced a new quarterly dividend of $0.2497, increasing from its previous $0.17, which equates to an annualized yield of 2.0%.
• Institutional investors have shown interest in METU, with notable purchases including SBI Securities Co. Ltd. increasing its position by 36,550.0% during the 2nd quarter.

Shares of Direxion Daily META Bull 2X Shares (NASDAQ:METU - ) were down 2.6% during trading on Wednesday . The company traded as low as $49.00 and last traded at $49.21. Approximately 614,813 shares traded hands during mid-day trading, a decline of 23% from the average daily volume of 796,148 shares. The stock had previously closed at $50.54.

Direxion Daily META Bull 2X Shares Stock Performance

The business's 50 day moving average is $43.13 and its 200 day moving average is $37.89. The company has a market capitalization of $149.11 million and a price-to-earnings ratio of 24.62.

Direxion Daily META Bull 2X Shares Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Tuesday, June 24th were paid a $0.2497 dividend. This is a boost from Direxion Daily META Bull 2X Shares's previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, June 24th. This represents a $1.00 dividend on an annualized basis and a yield of 2.0%.

Institutional Trading of Direxion Daily META Bull 2X Shares

A number of institutional investors have recently bought and sold shares of METU. SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co purchased a new position in Direxion Daily META Bull 2X Shares during the 2nd quarter worth approximately $345,000. SBI Securities Co. Ltd. raised its position in 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 worth $33,000 after buying an additional 731 shares during the last quarter. SOA Wealth Advisors LLC. purchased a new position in Direxion Daily META Bull 2X Shares during the 2nd quarter worth approximately $59,000. Jane Street Group LLC purchased a new position in Direxion Daily META Bull 2X Shares during the 4th quarter worth approximately $542,000. Finally, Optiver Holding B.V. purchased a new position in Direxion Daily META Bull 2X Shares during the 4th quarter worth approximately $1,626,000.

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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