Direxion Daily MU Bull 2X Shares (NASDAQ:MUU) Stock Price Up 13.5% - Here's What Happened

Key Points

• Shares jumped 13.5% — MUU traded up to $214.50 and last at $213.88 on Tuesday, above the prior close of $188.45, on volume of 2,553,106 shares (about 4% above average).
• Dividend raised — the fund increased its quarterly dividend to $0.6767 (annualized $2.71) from $0.38, producing a ~1.3% yield and was paid March 31 (ex-dividend March 24).
• Fund profile and investor interest — MUU is a 2x leveraged ETF providing daily exposure to Micron Technology, and several institutions (including SBI, Tower Research, Csenge, Client First and Citadel) recently increased or initiated positions.

Direxion Daily MU Bull 2X Shares (NASDAQ:MUU - ) shares traded up 13.5% on Tuesday . The company traded as high as $214.50 and last traded at $213.88. 2,553,106 shares traded hands during trading, an increase of 4% from the average session volume of 2,452,881 shares. The stock had previously closed at $188.45.

Direxion Daily MU Bull 2X Shares Stock Performance

The stock's 50-day moving average price is $178.62 and its 200 day moving average price is $123.92.

Direxion Daily MU Bull 2X Shares Increases Dividend

The business also recently announced 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 1.3%. This is a boost from Direxion Daily MU Bull 2X Shares's previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Tuesday, March 24th.

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

A number of institutional investors have recently modified their holdings of MUU. SBI Securities Co. Ltd. increased its position in Direxion Daily MU Bull 2X Shares by 98.0% during the 4th quarter. SBI Securities Co. Ltd. now owns 1,275 shares of the company's stock valued at $128,000 after purchasing an additional 631 shares during the period. Tower Research Capital LLC TRC increased its position in Direxion Daily MU Bull 2X Shares by 95.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,644 shares of the company's stock valued at $64,000 after purchasing an additional 1,289 shares during the period. Csenge Advisory Group purchased a new position in Direxion Daily MU Bull 2X Shares during the 4th quarter valued at about $677,000. Client First Investment Management LLC purchased a new position in Direxion Daily MU Bull 2X Shares during the 4th quarter valued at about $883,000. Finally, Citadel Advisors LLC purchased a new position in Direxion Daily MU Bull 2X Shares during the 3rd quarter valued at about $840,000.

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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