Short Interest in Direxion Daily META Bull 2X Shares (NASDAQ:METU) Rises By 182.7%

Key Points

• Direxion Daily META Bull 2X Shares (NASDAQ:METU) experienced a significant increase in short interest, rising by 182.7% in July to a total of 627,400 shares.
• The company's recent quarterly dividend was declared at $0.2497 per share, an increase from the prior $0.17, representing a 2.0% annualized yield.
• Institutional investors showed increased interest, with multiple firms purchasing new stakes in the fund during the second quarter, including HUB Investment Partners acquiring $418,000 worth of shares.

Direxion Daily META Bull 2X Shares (NASDAQ:METU - Get Free Report) saw a large growth in short interest in the month of July. As of July 31st, there was short interest totaling 627,400 shares, agrowthof182.7% from the July 15th total of 221,900 shares. Based on an average daily trading volume, of 697,600 shares, the short-interest ratio is presently 0.9 days. Approximately20.7% of the company's shares are short sold. Approximately20.7% of the company's shares are short sold. Based on an average daily trading volume, of 697,600 shares, the short-interest ratio is presently 0.9 days.

Direxion Daily META Bull 2X Shares Stock Down 2.3%

Shares of METU traded down $1.02 during midday trading on Thursday, hitting $44.04. The company had a trading volume of 434,379 shares, compared to its average volume of 790,774. The company's 50 day moving average price is $43.88 and its 200 day moving average price is $37.99. The stock has a market cap of $133.44 million and a price-to-earnings ratio of 24.62. Direxion Daily META Bull 2X Shares has a 52 week low of $20.11 and a 52 week high of $52.12.

Direxion Daily META Bull 2X Shares Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Tuesday, June 24th were paid a dividend of $0.2497 per share. This represents a $1.00 annualized dividend and a yield of 2.3%. This is a positive change from Direxion Daily META Bull 2X Shares's previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, June 24th.

Institutional Inflows and Outflows

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

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.