Direxion Daily META Bull 2X Shares (NASDAQ:METU) Sees Significant Drop in Short Interest

Direxion Daily META Bull 2X Shares (NASDAQ:METU - Get Free Report) was the recipient of a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 182,900 shares, a decline of 48.2% from the March 15th total of 353,200 shares. Currently, 7.0% of the shares of the stock are short sold. Based on an average daily volume of 710,300 shares, the days-to-cover ratio is currently 0.3 days.

Direxion Daily META Bull 2X Shares Trading Down 0.5 %

Shares of Direxion Daily META Bull 2X Shares stock traded down $0.10 during mid-day trading on Friday, hitting $22.01. 875,607 shares of the stock were exchanged, compared to its average volume of 729,954. The company has a 50-day simple moving average of $34.65 and a 200 day simple moving average of $35.76. The stock has a market capitalization of $58.77 million and a price-to-earnings ratio of 22.04. Direxion Daily META Bull 2X Shares has a twelve month low of $20.85 and a twelve month high of $52.12.

Direxion Daily META Bull 2X Shares Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 25th were paid a $0.1737 dividend. The ex-dividend date of this dividend was Tuesday, March 25th. This represents a $0.69 annualized dividend and a yield of 3.16%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Jane Street Group LLC acquired a new stake in shares of Direxion Daily META Bull 2X Shares during the fourth quarter worth $542,000. Optiver Holding B.V. purchased a new position in Direxion Daily META Bull 2X Shares during the fourth quarter worth about $1,626,000. Susquehanna International Group LLP boosted its stake in Direxion Daily META Bull 2X Shares by 222.1% in the 4th quarter. Susquehanna International Group LLP now owns 61,424 shares of the company's stock worth $2,044,000 after buying an additional 42,354 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Direxion Daily META Bull 2X Shares in the 4th quarter valued at about $1,421,000.

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.