Direxion Daily MU Bull 2X Shares (NASDAQ:MUU) Hits New 52-Week High - Still a Buy?

Key Points

• MUU hit a new 52-week high, trading as high as $420.75 (last $407.85) on volume of 2,781,578 shares and was up about 22.1% from the prior close of $333.96.
• MUU is a 2x leveraged ETF that provides twice the daily exposure to Micron Technology shares, launched Oct 10, 2024 and issued by Direxion.
• The fund raised its quarterly dividend to $0.6767 (annualized $2.71, ~0.7% yield) and several institutions—including SBI Securities, Tower Research, PFG Investments, Diversify Wealth Management and Csenge Advisory—have recently built or increased positions.

Direxion Daily MU Bull 2X Shares (NASDAQ:MUU - ) reached a new 52-week high during trading on Wednesday . The company traded as high as $420.75 and last traded at $407.85, with a volume of 2781578 shares. The stock had previously closed at $333.96.

Direxion Daily MU Bull 2X Shares Stock Up 22.1%

The company has a 50 day simple moving average of $196.16 and a two-hundred day simple moving average of $143.66.

Direxion Daily MU Bull 2X Shares Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 24th were given a dividend of $0.6767 per share. This is a positive change from Direxion Daily MU Bull 2X Shares's previous quarterly dividend of $0.38. This represents a $2.71 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Tuesday, March 24th.

Institutional Trading of Direxion Daily MU Bull 2X Shares

Several hedge funds have recently bought and sold shares of MUU. SBI Securities Co. Ltd. boosted its holdings in shares of Direxion Daily MU Bull 2X Shares by 98.0% during the 4th quarter. SBI Securities Co. Ltd. now owns 1,275 shares of the company's stock valued at $128,000 after purchasing an additional 631 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Direxion Daily MU Bull 2X Shares by 95.1% in the second quarter. Tower Research Capital LLC TRC now owns 2,644 shares of the company's stock worth $64,000 after buying an additional 1,289 shares in the last quarter. PFG Investments LLC bought a new position in Direxion Daily MU Bull 2X Shares during the first quarter valued at approximately $482,000. Diversify Wealth Management LLC bought a new position in Direxion Daily MU Bull 2X Shares during the first quarter valued at approximately $658,000. Finally, Csenge Advisory Group purchased a new position in Direxion Daily MU Bull 2X Shares during the 4th quarter valued at approximately $677,000.

Direxion Daily MU Bull 2X Shares Company Profile

The Direxion Daily MU Bull 2X Shares (MUU) is an exchange-traded fund that mostly invests in information technology equity. The fund provides 2x leveraged exposure, less fees and expenses, to the daily price movement for shares of Micron Technology, Inc stock. MUU was launched on Oct 10, 2024 and is issued by Direxion.

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