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

Key Points

• Shares jumped 7.1% after gapping up from $179.35 to an $185.90 open and last trading at $189.20 on volume of 752,631 shares.
• MUU is a 2x leveraged ETF that provides twice the daily exposure to Micron Technology and was launched on October 10, 2024.
• Notable institutional buying included UBS acquiring a new $10.1 million stake, with additional positions added by Goldman Sachs, Vestor Capital, Optiver and Belvedere Trading.

Direxion Daily MU Bull 2X Shares (NASDAQ:MUU - ) shares gapped up before the market opened on Wednesday . The stock had previously closed at $179.35, but opened at $185.90. Direxion Daily MU Bull 2X Shares shares last traded at $189.20, with a volume of 752,631 shares changing hands.

Direxion Daily MU Bull 2X Shares Stock Up 7.1%

The firm's 50-day moving average price is $173.01 and its 200-day moving average price is $100.08.

Direxion Daily MU Bull 2X Shares Cuts Dividend

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. UBS Group AG purchased a new stake in Direxion Daily MU Bull 2X Shares during the 4th quarter worth $10,100,000. Goldman Sachs Group Inc. acquired a new position in shares of Direxion Daily MU Bull 2X Shares in the first quarter worth about $716,000. Vestor Capital LLC purchased a new position in Direxion Daily MU Bull 2X Shares in the second quarter valued at about $1,188,000. Optiver Holding B.V. raised its position in shares of Direxion Daily MU Bull 2X Shares by 166.8% in the 3rd quarter. Optiver Holding B.V. now owns 36,840 shares of the company's stock valued at $1,528,000 after purchasing an additional 23,032 shares in the last quarter. Finally, Belvedere Trading LLC purchased a new position in shares of Direxion Daily MU Bull 2X Shares during the 3rd quarter valued at approximately $844,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.