Direxion Daily META Bull 2X Shares (NASDAQ:METU) Trading Up 0.7% - Here's What Happened

Key Points

• METU shares rose 0.7% to $21.42 in mid-day trading, with volume down 25% from its average. The ETF’s 50-day and 200-day moving averages were $22.70 and $26.18, respectively.
• Direxion Daily META Bull 2X Shares paid a quarterly dividend of $0.1432 per share, equivalent to an annualized dividend of $0.57 and a 2.7% yield.
• METU provides 2x leveraged daily exposure to Meta Platforms’ stock. Several institutional investors recently initiated or increased positions, including Hoey Investments, which raised its holdings by 500%.

Shares of Direxion Daily META Bull 2X Shares (NASDAQ:METU - ) rose 0.7% during mid-day trading on Friday . The stock traded as high as $21.90 and last traded at $21.42. Approximately 3,447,130 shares traded hands during trading, a decline of 25% from the average daily volume of 4,614,688 shares. The stock had previously closed at $21.27.

Direxion Daily META Bull 2X Shares Stock Up 0.7%

The firm has a market capitalization of $372.71 million, a price-to-earnings ratio of 24.62 and a beta of 3.21. The business's fifty day moving average is $22.70 and its 200 day moving average is $26.18.

Direxion Daily META Bull 2X Shares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd were issued a dividend of $0.1432 per share. This represents a $0.57 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Tuesday, June 23rd.

Institutional Trading of Direxion Daily META Bull 2X Shares

A number of institutional investors have recently bought and sold shares of the business. Parallel Advisors LLC bought a new stake in Direxion Daily META Bull 2X Shares during the fourth quarter worth about $26,000. Summit Securities Group LLC bought a new position in Direxion Daily META Bull 2X Shares in the 4th quarter valued at about $32,000. Mcguire Capital Advisors Inc. acquired a new position in shares of Direxion Daily META Bull 2X Shares in the 4th quarter valued at approximately $35,000. SOA Wealth Advisors LLC. raised its position in shares of Direxion Daily META Bull 2X Shares by 27.9% in the 1st quarter. SOA Wealth Advisors LLC. now owns 2,364 shares of the company's stock valued at $53,000 after buying an additional 515 shares in the last quarter. Finally, Hoey Investments Inc. lifted its holdings in shares of Direxion Daily META Bull 2X Shares by 500.0% during the 4th quarter. Hoey Investments Inc. now owns 3,000 shares of the company's stock worth $96,000 after acquiring an additional 2,500 shares during the period.

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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