Short Interest in Direxion Daily META Bull 2X Shares (NASDAQ:METU) Grows By 54.5%

Key Points

• Short interest in Direxion Daily META Bull 2X Shares (NASDAQ:METU) surged by 54.5% in August, reaching a total of 474,600 shares, indicating increased bearish sentiment.
• The company declared a quarterly dividend of $0.2497, up from the previous $0.17, signifying a dividend yield of 2.1% for investors.
• Institutional investors have significantly modified their positions in Direxion Daily META Bull 2X Shares, with major increases in holdings from firms like SBI Securities Co. Ltd. and others in the second quarter.

Direxion Daily META Bull 2X Shares (NASDAQ:METU - ) saw a significant increase in short interest during the month of August. As of August 31st, there was short interest totaling 474,600 shares, an increase of 54.5% from the August 15th total of 307,100 shares. Based on an average daily volume of 619,600 shares, the days-to-cover ratio is currently 0.8 days. Approximately 15.7% of the company's shares are short sold. Approximately 15.7% of the company's shares are short sold. Based on an average daily volume of 619,600 shares, the days-to-cover ratio is currently 0.8 days.

Direxion Daily META Bull 2X Shares Price Performance

Shares of Direxion Daily META Bull 2X Shares stock traded up $1.06 during trading on Monday, hitting $46.69. The company's stock had a trading volume of 887,041 shares, compared to its average volume of 760,150. Direxion Daily META Bull 2X Shares has a 52 week low of $20.11 and a 52 week high of $52.12. The stock has a market cap of $141.47 million and a price-to-earnings ratio of 24.62. The stock has a 50-day moving average price of $44.81 and a two-hundred day moving average price of $37.65.

Direxion Daily META Bull 2X Shares Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 24th were given a $0.2497 dividend. This is an increase from Direxion Daily META Bull 2X Shares's previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, June 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.1%.

Institutional Investors Weigh In On Direxion Daily META Bull 2X Shares

A number of institutional investors have recently modified their holdings of the company. SBI Securities Co. Ltd. raised its stake in Direxion Daily META Bull 2X Shares by 36,550.0% during the second quarter. SBI Securities Co. Ltd. now owns 733 shares of the company's stock worth $33,000 after buying an additional 731 shares during the last quarter. SOA Wealth Advisors LLC. acquired a new stake in Direxion Daily META Bull 2X Shares during the 2nd quarter worth about $59,000. Bank of America Corp DE bought a new position in shares of Direxion Daily META Bull 2X Shares in the 2nd quarter worth about $244,000. SHEPHERD WEALTH MANAGEMENT Ltd LIABILITY Co bought a new position in shares of Direxion Daily META Bull 2X Shares in the 2nd quarter worth about $345,000. Finally, HUB Investment Partners LLC acquired a new position in shares of Direxion Daily META Bull 2X Shares in the 2nd quarter valued at about $418,000.

About Direxion Daily META Bull 2X Shares

The Direxion Daily META Bull 2X Shares (METU) is an exchange-traded fund that is based on the Meta Platforms Inc Class A index. The fund provides 2x leveraged exposure, less fees and expenses, to the daily price movement for shares of META stock. METU was launched on Jun 5, 2024 and is issued by Direxion.

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