On May 20, Direxion 2X Long MU ETF rose 8.16% in pre-market trading, trading at $503.17/share, with trading volume of approximately $21.11 million.
The rally was driven by surging demand for AI infrastructure and next-generation chips, which has bolstered momentum across the broader semiconductor sector. As a 2x leveraged ETF tracking Micron Technology, the fund amplifies underlying stock gains tied to memory and storage chip tailwinds. Recent options market activity showed Micron Technology call volumes surging 1.8x with concentrated bullish positioning, while NVIDIA reached record highs, further validating robust AI-driven semiconductor demand across the supply chain.
(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.)