Direxion Daily META Bull 2X Shares (NASDAQ:METU) Trading Down 6.4% - Time to Sell?

Key Points

• NASDAQ:METU slid 6.4% to $23.04 on Thursday with volume of 1.21M shares (down 62% vs. its average), trading well below its 50‑day ($29.97) and 200‑day ($33.86) moving averages.
• The fund declared a quarterly dividend of $0.1935 (annualized $0.77) for a ~3.7% yield, with an ex‑dividend date of March 24 and payment on March 31.
• METU is a 2x leveraged ETF tracking Meta Platforms Class A’s daily moves, carries a high beta (4.09), and was launched on June 5, 2024.

Direxion Daily META Bull 2X Shares (NASDAQ:METU - ) shares traded down 6.4% on Thursday . The stock traded as low as $22.92 and last traded at $23.04. 1,212,684 shares were traded during trading, a decline of 62% from the average session volume of 3,207,267 shares. The stock had previously closed at $24.62.

Direxion Daily META Bull 2X Shares Stock Performance

The stock has a market capitalization of $464.81 million, a PE ratio of 24.62 and a beta of 4.09. The stock's 50 day moving average is $29.97 and its two-hundred day moving average is $33.86.

Direxion Daily META Bull 2X Shares Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 24th will be given a $0.1935 dividend. This represents a $0.77 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Tuesday, March 24th.

Institutional Trading of Direxion Daily META Bull 2X Shares

Several large investors have recently made changes to their positions in the company. Mcguire Capital Advisors Inc. purchased a new stake in shares of Direxion Daily META Bull 2X Shares during the fourth quarter worth $35,000. Summit Securities Group LLC purchased a new position in shares of Direxion Daily META Bull 2X Shares in the fourth quarter worth about $32,000. Parallel Advisors LLC purchased a new position in shares of Direxion Daily META Bull 2X Shares in the fourth quarter worth about $26,000. Prosperitas Financial LLC acquired a new position in Direxion Daily META Bull 2X Shares during the fourth quarter worth about $286,000. Finally, SBI Securities Co. Ltd. grew its stake in Direxion Daily META Bull 2X Shares by 680.5% during the 4th quarter. SBI Securities Co. Ltd. now owns 5,128 shares of the company's stock valued at $165,000 after acquiring an additional 4,471 shares in the last quarter.

Direxion Daily META Bull 2X Shares Company Profile

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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