Direxion Daily MU Bull 2X Shares (NASDAQ:MUU) Trading 16.6% Higher - Still a Buy?

Key Points

• MUU surged 16.6% on Monday to about $345 (intraday high $346) on 879,588 shares traded, well above its previous close and far above its 50‑day ($192.16) and 200‑day ($141.17) moving averages.
• The fund raised its quarterly dividend to $0.6767 (paid Mar. 31), up from $0.38, which annualizes to $2.71 and yields roughly 0.8% at current prices.
• MUU is a 2x leveraged ETF providing daily exposure to Micron Technology, and several institutional players (UBS, Goldman Sachs, Optiver, Citadel, Belvedere) have recently opened or increased positions.

Direxion Daily MU Bull 2X Shares (NASDAQ:MUU - )'s stock price traded up 16.6% on Monday . The stock traded as high as $346.00 and last traded at $345.01. 879,588 shares traded hands during mid-day trading, a decline of 63% from the average session volume of 2,400,243 shares. The stock had previously closed at $295.79.

Direxion Daily MU Bull 2X Shares Stock Up 11.3%

The firm's fifty day moving average is $192.16 and its two-hundred day moving average is $141.17.

Direxion Daily MU Bull 2X Shares Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 24th were issued a $0.6767 dividend. This represents a $2.71 annualized dividend and a yield of 0.8%. This is an increase from Direxion Daily MU Bull 2X Shares's previous quarterly dividend of $0.38. The ex-dividend date was Tuesday, March 24th.

Institutional Trading of Direxion Daily MU Bull 2X Shares

A number of hedge funds have recently modified their holdings of MUU. UBS Group AG bought a new stake in shares of Direxion Daily MU Bull 2X Shares during the 4th quarter valued at $10,100,000. Goldman Sachs Group Inc. bought a new stake in shares of Direxion Daily MU Bull 2X Shares during the 1st quarter valued at $716,000. Optiver Holding B.V. boosted its holdings in shares of Direxion Daily MU Bull 2X Shares by 166.8% during the 3rd quarter. Optiver Holding B.V. now owns 36,840 shares of the company's stock valued at $1,528,000 after buying an additional 23,032 shares in the last quarter. Belvedere Trading LLC bought a new stake in shares of Direxion Daily MU Bull 2X Shares during the 3rd quarter valued at $844,000. Finally, Citadel Advisors LLC bought a new stake in shares of Direxion Daily MU Bull 2X Shares during the 3rd quarter valued at $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.

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.