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

Key Points

• MUU gapped down: Direxion Daily MU Bull 2X Shares (MUU) fell from a prior close of $233.01 to an open of $195.68 and last traded at $215.25 on volume of 2,370,046 shares.
• Leveraged Micron exposure: MUU is a 2x leveraged ETF providing daily exposure to Micron Technology, and it is trading above its 50‑day ($183.60) and 200‑day ($107.39) moving averages.
• Dividend and institutional activity: The fund paid a quarterly dividend of $0.3775 (annualized $1.51, yield 0.7%), and several institutional investors including Goldman Sachs, Vestor Capital and others have recently adjusted stakes.

Direxion Daily MU Bull 2X Shares (NASDAQ:MUU - ) shares gapped down before the market opened on Thursday . The stock had previously closed at $233.01, but opened at $195.68. Direxion Daily MU Bull 2X Shares shares last traded at $215.25, with a volume of 2,370,046 shares traded.

Direxion Daily MU Bull 2X Shares Stock Performance

The stock has a 50-day moving average price of $183.60 and a 200-day moving average price of $107.39.

Direxion Daily MU Bull 2X Shares Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 23rd were given a dividend of $0.3775 per share. The ex-dividend date was Tuesday, December 23rd. This represents a $1.51 annualized dividend and a dividend yield of 0.7%.

Hedge Funds Weigh In On Direxion Daily MU Bull 2X Shares

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. acquired a new stake in Direxion Daily MU Bull 2X Shares during the 1st quarter worth about $716,000. SBI Securities Co. Ltd. boosted its position in shares of Direxion Daily MU Bull 2X Shares by 25,550.0% during the 2nd quarter. SBI Securities Co. Ltd. now owns 1,026 shares of the company's stock valued at $25,000 after purchasing an additional 1,022 shares in the last quarter. Vestor Capital LLC bought a new stake in shares of Direxion Daily MU Bull 2X Shares during the 2nd quarter valued at about $1,188,000. Tower Research Capital LLC TRC grew its stake in Direxion Daily MU Bull 2X Shares by 95.1% during the second quarter. Tower Research Capital LLC TRC now owns 2,644 shares of the company's stock worth $64,000 after purchasing an additional 1,289 shares during the period. Finally, Belvedere Trading LLC bought a new stake in Direxion Daily MU Bull 2X Shares in the third quarter worth 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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