Direxion Daily COIN Bull 2X ETF (NASDAQ:CONX) Trading Down 8.9% – Should You Sell?

Direxion Daily COIN Bull 2X ETF (NASDAQ:CONX) was down 8.9% on Friday . The company traded as low as $8.78 and last traded at $8.79. Approximately 107,737 shares were traded during trading, an increase of 83% from the average daily volume of 58,808 shares. The stock had previously closed at $9.65.

Direxion Daily COIN Bull 2X ETF Stock Performance

The business’s 50-day simple moving average is $10.00.

Direxion Daily COIN Bull 2X ETF Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 24th were given a $0.0689 dividend. This represents a $0.28 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Tuesday, March 24th.

Institutional Investors Weigh In On Direxion Daily COIN Bull 2X ETF

An institutional investor recently bought a new position in Direxion Daily COIN Bull 2X ETF stock. Goldman Sachs Group Inc. acquired a new stake in Direxion Daily COIN Bull 2X ETF (NASDAQ:CONX) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 25,000 shares of the company’s stock, valued at approximately $443,000. Goldman Sachs Group Inc. owned approximately 0.12% of Direxion Daily COIN Bull 2X ETF at the end of the most recent quarter. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Direxion Daily COIN Bull 2X ETF Company Profile

CONX Corp. does not have significant operations. The company focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses or assets. It intends to focus its search on identifying a prospective target operating in the technology, media, and telecommunications industries, including wireless communications industry. The company was incorporated in 2020 and is based in Littleton, Colorado.