On August 18, Direxion Daily MU Bull 2X Shares declined 9.37% in regular trading, trading at $31.53/share, with turnover of $266 million. The leveraged ETF tracks Micron Technology at 2x exposure, with the underlying stock falling over 3% on the same session.
On the news front, Micron Technology had surged 17.5% over the prior five trading days, triggering significant profit-taking pressure. Legendary investor Druckenmiller disclosed in his latest 13F filing that he fully exited his Micron position, while Appaloosa also reduced holdings and Bridgewater previously disclosed a roughly 92% reduction in its stake. In the options market, a $624,000 sell order targeting far-month $1,200 strike calls signaled institutional caution on upside potential, complemented by put buying activity that collectively suggests funds are betting on limited room for further appreciation.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)