Direxion Daily META Bull 2X Shares (NASDAQ:METU) Stock Price Up 3% - Should You Buy?

Key Points

• Direxion Daily META Bull 2X Shares (NASDAQ:METU) experienced a 3% increase in stock price, trading at $44.85 after reaching a high of $46.41 on Thursday.
• The firm announced a quarterly dividend of $0.2497 per share, raising the annualized dividend to $1.00 and resulting in a dividend yield of 2.2%.
• Several large investors increased their stakes in Direxion Daily META Bull 2X Shares, with Susquehanna International Group LLP raising its position by 222.1% during the 4th quarter.

Direxion Daily META Bull 2X Shares (NASDAQ:METU - Get Free Report) were up 3% on Thursday . The stock traded as high as $46.41 and last traded at $44.85. Approximately 706,402 shares were traded during trading, a decline of 8% from the average daily volume of 769,769 shares. The stock had previously closed at $43.56.

Direxion Daily META Bull 2X Shares Trading Up 3.2%

The stock has a market cap of $141.53 million and a P/E ratio of 24.62. The company has a 50-day moving average price of $44.58 and a two-hundred day moving average price of $37.54.

Direxion Daily META Bull 2X Shares Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 24th were given a dividend of $0.2497 per share. The ex-dividend date of this dividend was Tuesday, June 24th. This represents a $1.00 annualized dividend and a dividend yield of 2.1%. This is an increase from Direxion Daily META Bull 2X Shares's previous quarterly dividend of $0.17.

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

A number of large investors have recently bought and sold shares of the business. Jane Street Group LLC purchased a new position in Direxion Daily META Bull 2X Shares during the 4th quarter valued at $542,000. Corient Private Wealth LLC bought a new position in shares of Direxion Daily META Bull 2X Shares during the 2nd quarter worth $681,000. HUB Investment Partners LLC bought a new position in shares of Direxion Daily META Bull 2X Shares during the 2nd quarter worth $418,000. SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co bought a new position in shares of Direxion Daily META Bull 2X Shares during the 2nd quarter worth $345,000. Finally, Bank of America Corp DE bought a new position in shares of Direxion Daily META Bull 2X Shares during the 2nd quarter worth $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.