Direxion Daily MU Bull 2X Shares (NASDAQ:MUU) Stock Price Down 5.5% - Time to Sell?

Key Points

• Price drop: Direxion Daily MU Bull 2X Shares (MUU) fell 5.5% intraday to $200.80 from a prior close of $212.43, with 1,182,820 shares traded—about 52% below average volume.
• Dividend hike: The fund raised its quarterly dividend to $0.6767 (paid Mar 31; ex-dividend Mar 24), equal to an annualized $2.71 and a 1.3% yield, up from the prior quarterly payout of $0.38.
• Fund profile: MUU, launched Oct 10, 2024, is a Direxion ETF that provides daily 2x leveraged exposure to Micron Technology shares and currently trades above its 50‑day ($181.45) and 200‑day ($128.83) moving averages.

Direxion Daily MU Bull 2X Shares (NASDAQ:MUU - )'s share price fell 5.5% during trading on Monday . The company traded as low as $196.36 and last traded at $200.80. 1,182,820 shares were traded during mid-day trading, a decline of 52% from the average session volume of 2,444,566 shares. The stock had previously closed at $212.43.

Direxion Daily MU Bull 2X Shares Trading Down 2.9%

The company has a 50-day moving average price of $181.45 and a two-hundred day moving average price of $128.83.

Direxion Daily MU Bull 2X Shares Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 24th were paid a dividend of $0.6767 per share. The ex-dividend date of this dividend was Tuesday, March 24th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 1.3%. This is a boost from Direxion Daily MU Bull 2X Shares's previous quarterly dividend of $0.38.

Institutional Trading of Direxion Daily MU Bull 2X Shares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. boosted its position in shares of 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 during the period. Tower Research Capital LLC TRC raised its holdings in shares of Direxion Daily MU Bull 2X Shares by 95.1% in the second quarter. Tower Research Capital LLC TRC now owns 2,644 shares of the company's stock worth $64,000 after buying an additional 1,289 shares during the period. Csenge Advisory Group bought a new stake in shares of Direxion Daily MU Bull 2X Shares during the 4th quarter worth approximately $677,000. Client First Investment Management LLC bought a new stake in shares of Direxion Daily MU Bull 2X Shares during the 4th quarter worth approximately $883,000. Finally, Citadel Advisors LLC purchased a new position in Direxion Daily MU Bull 2X Shares during the 3rd 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.

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.