Direxion Daily MU Bull 2X Shares (NASDAQ:MUU) Trading Up 5.2% - Here's Why

Key Points

• Direxion Daily MU Bull 2X Shares (NASDAQ:MUU) experienced a significant rise of 5.2% during trading, reaching a high of $53.77.
• The company recently announced a quarterly dividend of $0.0639, contributing to an annualized dividend yield of 0.5%.
• Institutional investors have been actively acquiring positions in Direxion Daily MU Bull 2X Shares, with notable purchases from Goldman Sachs and SBI Securities.

Direxion Daily MU Bull 2X Shares (NASDAQ:MUU - ) rose 5.2% during trading on Wednesday . The company traded as high as $53.77 and last traded at $53.30. Approximately 434,700 shares traded hands during trading, a decline of 17% from the average daily volume of 524,385 shares. The stock had previously closed at $50.68.

Direxion Daily MU Bull 2X Shares Stock Performance

The business's 50-day moving average price is $33.80 and its 200 day moving average price is $22.55.

Direxion Daily MU Bull 2X Shares Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 23rd were paid a $0.0639 dividend. The ex-dividend date was Tuesday, September 23rd. This represents a $0.26 annualized dividend and a dividend yield of 0.5%.

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

A number of institutional investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. acquired a new position in shares of Direxion Daily MU Bull 2X Shares in the 1st quarter valued at approximately $716,000. Vestor Capital LLC acquired a new stake in shares of Direxion Daily MU Bull 2X Shares in the 2nd quarter valued at about $1,188,000. Delta Investment Management LLC acquired a new stake in shares of Direxion Daily MU Bull 2X Shares in the 2nd quarter valued at about $341,000. Tower Research Capital LLC TRC raised its stake in shares of Direxion Daily MU Bull 2X Shares by 95.1% in 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 in the last quarter. Finally, SBI Securities Co. Ltd. raised its stake in shares of Direxion Daily MU Bull 2X Shares by 25,550.0% in 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.

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.

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