Direxion Daily MU Bull 2X Shares (NASDAQ:MUU) Shares Gap Down - Should You Sell?

Key Points

• MUU fell 7.3% after gapping down from a $222.40 close to a $215.09 open and last trading at $212.00 on volume of 626,207 shares.
• The fund increased its quarterly dividend to $0.6767 (from $0.38), paid Mar 31 with record/ex-dividend activity around Mar 24, representing an annualized $2.71 payout and a 1.3% yield.
• MUU is a Direxion exchange-traded fund that provides 2x leveraged exposure to the daily price movement of Micron Technology stock and was launched on Oct 10, 2024.

Direxion Daily MU Bull 2X Shares (NASDAQ:MUU - ) gapped down prior to trading on Wednesday . The stock had previously closed at $222.40, but opened at $215.09. Direxion Daily MU Bull 2X Shares shares last traded at $212.00, with a volume of 626,207 shares traded.

Direxion Daily MU Bull 2X Shares Stock Down 7.3%

The stock has a fifty day moving average of $178.94 and a 200-day moving average of $125.23.

Direxion Daily MU Bull 2X Shares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 24th were issued 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 1.3%. The ex-dividend date was Tuesday, March 24th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MUU. UBS Group AG purchased a new position in shares of Direxion Daily MU Bull 2X Shares during the fourth quarter valued at $10,100,000. Goldman Sachs Group Inc. purchased a new position in shares of Direxion Daily MU Bull 2X Shares during the first quarter valued at $716,000. Optiver Holding B.V. grew its holdings in shares of Direxion Daily MU Bull 2X Shares by 166.8% during 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 in the last quarter. Belvedere Trading LLC purchased a new position in shares of Direxion Daily MU Bull 2X Shares during the third quarter valued at $844,000. Finally, Citadel Advisors LLC purchased a new position in shares of Direxion Daily MU Bull 2X Shares during the third quarter valued at $840,000.

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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