Short Interest in Direxion Daily META Bull 2X Shares (NASDAQ:METU) Rises By 84.0%

Key Points

• Short interest in METU surged 84% to 7.90 million shares as of July 31, representing 45.4% of shares outstanding. The short-interest ratio was 1.8 days based on average daily trading volume.
• METU shares fell $0.38 to $21.18, with the leveraged ETF trading well below its 52-week high of $51.20. The fund has a beta of 3.21 and provides twice the daily exposure to Meta Platforms’ stock movements, before fees and expenses.
• The fund recently paid a quarterly dividend of $0.1432, equivalent to an annualized $0.57 dividend and a 2.7% yield. Several institutional investors initiated positions, while Tactive Advisors increased its holdings by 65.9%.

Direxion Daily META Bull 2X Shares (NASDAQ:METU - ) saw a significant increase in short interest during the month of July. As of July 31st, there was short interest totaling 7,895,832 shares, an increase of 84.0% from the July 15th total of 4,292,060 shares. Currently, 45.4% of the shares of the company are sold short. Based on an average daily trading volume, of 4,436,871 shares, the short-interest ratio is presently 1.8 days.

Direxion Daily META Bull 2X Shares Price Performance

METU stock traded down $0.38 on Friday, reaching $21.18. The company's stock had a trading volume of 3,108,469 shares, compared to its average volume of 4,620,701. Direxion Daily META Bull 2X Shares has a 52 week low of $16.85 and a 52 week high of $51.20. The company has a market capitalization of $368.53 million, a P/E ratio of 24.62 and a beta of 3.21. The firm has a fifty day moving average of $22.40 and a two-hundred day moving average of $25.92.

Direxion Daily META Bull 2X Shares Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd were paid a $0.1432 dividend. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $0.57 annualized dividend and a dividend yield of 2.7%.

Institutional Trading of Direxion Daily META Bull 2X Shares

A number of hedge funds and other institutional investors have recently made changes to their positions in METU. UBS Group AG bought a new position in shares of Direxion Daily META Bull 2X Shares in the fourth quarter valued at approximately $2,500,000. Simplex Trading LLC acquired a new position in shares of Direxion Daily META Bull 2X Shares during the 4th quarter valued at $1,290,000. Virtu Financial LLC acquired a new position in shares of Direxion Daily META Bull 2X Shares during the 4th quarter valued at $876,000. OLD Mission Capital LLC bought a new position in Direxion Daily META Bull 2X Shares during the fourth quarter valued at about $575,000. Finally, Tactive Advisors LLC raised its position in Direxion Daily META Bull 2X Shares by 65.9% in the second quarter. Tactive Advisors LLC now owns 41,275 shares of the company's stock worth $836,000 after acquiring an additional 16,400 shares in the last quarter.

Direxion Daily META Bull 2X Shares Company Profile

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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