Direxion Daily MU Bull 2X Shares (NASDAQ:MUU) Shares Gap Down - Here's What Happened

Key Points

• MUU gapped down before the open, opening at $184.50 vs. the prior close of $193.16 and last trading at $179.53, a decline of about 7.4% on ~980,615 shares.
• The fund paid a quarterly dividend of $0.3775 (record/ex-dividend date Dec 23, paid Dec 31), which annualizes to $1.51 and a yield of 0.8%.
• Direxion Daily MU Bull 2X Shares (MUU) is a 2x leveraged ETF that provides twice the daily exposure to Micron Technology stock and was launched on Oct 10, 2024.

Direxion Daily MU Bull 2X Shares (NASDAQ:MUU - )'s stock price gapped down before the market opened on Thursday . The stock had previously closed at $193.16, but opened at $184.50. Direxion Daily MU Bull 2X Shares shares last traded at $179.53, with a volume of 980,615 shares traded.

Direxion Daily MU Bull 2X Shares Trading Down 7.4%

The business's 50-day simple moving average is $174.86 and its 200-day simple moving average is $100.73.

Direxion Daily MU Bull 2X Shares Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 23rd were paid a $0.3775 dividend. The ex-dividend date of this dividend was Tuesday, December 23rd. This represents a $1.51 dividend on an annualized basis and a yield of 0.8%.

Institutional Trading of Direxion Daily MU Bull 2X Shares

Several institutional investors and hedge funds have recently made changes to their positions in MUU. UBS Group AG acquired a new position in shares of Direxion Daily MU Bull 2X Shares in the 4th quarter valued at $10,100,000. Goldman Sachs Group Inc. acquired a new stake in shares of Direxion Daily MU Bull 2X Shares during the first quarter worth $716,000. Vestor Capital LLC bought a new stake in Direxion Daily MU Bull 2X Shares in the second quarter valued at about $1,188,000. Optiver Holding B.V. lifted its stake in Direxion Daily MU Bull 2X Shares by 166.8% in the third quarter. Optiver Holding B.V. now owns 36,840 shares of the company's stock valued at $1,528,000 after buying an additional 23,032 shares during the period. Finally, Belvedere Trading LLC bought a new stake in Direxion Daily MU Bull 2X Shares in the third quarter valued at approximately $844,000.

About Direxion Daily MU Bull 2X Shares

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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