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

Key Points

• MUU gapped down — the Direxion Daily MU Bull 2X Shares (MUU) fell from a $279.33 close to a $255.00 open and was last trading around $266.07, down about 7.4% on a volume of ~639,282 shares.
• Dividend increased — the fund paid a quarterly dividend of $0.6767 (annualized $2.71, ~1.0% yield) on March 31, up from the prior quarterly payout of $0.38, with an ex-dividend/record date in late March.
• Leveraged Micron exposure and institutional buying — MUU provides 2x daily exposure to Micron Technology shares, and several institutional investors have taken new or larger stakes recently, including UBS Group AG (~$10.1M).

Shares of Direxion Daily MU Bull 2X Shares (NASDAQ:MUU - ) gapped down before the market opened on Tuesday . The stock had previously closed at $279.33, but opened at $255.00. Direxion Daily MU Bull 2X Shares shares last traded at $266.07, with a volume of 639,282 shares trading hands.

Direxion Daily MU Bull 2X Shares Trading Down 7.4%

The business has a 50-day moving average price of $187.79 and a two-hundred day moving average price of $136.61.

Direxion Daily MU Bull 2X Shares Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 24th were given a dividend of $0.6767 per share. This represents a $2.71 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date was Tuesday, March 24th. This is a positive change from Direxion Daily MU Bull 2X Shares's previous quarterly dividend of $0.38.

Institutional Trading of Direxion Daily MU Bull 2X Shares

Several hedge funds have recently bought and sold shares of the company. PFG Investments LLC bought a new position in shares of Direxion Daily MU Bull 2X Shares in the first quarter valued at approximately $482,000. Client First Investment Management LLC purchased a new stake in Direxion Daily MU Bull 2X Shares during the fourth quarter valued at about $883,000. Csenge Advisory Group purchased a new stake in Direxion Daily MU Bull 2X Shares during the fourth quarter valued at about $677,000. SBI Securities Co. Ltd. lifted its stake in Direxion Daily MU Bull 2X Shares by 98.0% during the fourth quarter. SBI Securities Co. Ltd. now owns 1,275 shares of the company's stock valued at $128,000 after buying an additional 631 shares in the last quarter. Finally, UBS Group AG purchased a new stake in Direxion Daily MU Bull 2X Shares during the fourth quarter valued at about $10,100,000.

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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