Direxion Daily AVGO Bull 2X ETF (NASDAQ:AVL) Sees Large Increase in Short Interest

Direxion Daily AVGO Bull 2X ETF (NASDAQ:AVL) was the target of a significant increase in short interest during the month of August. As of August 31st, there was short interest totaling 1,300,437 shares, an increase of 210.2% from the August 15th total of 419,277 shares. Currently, 31.0% of the shares of the company are sold short. Based on an average daily volume of 749,968 shares, the days-to-cover ratio is presently 1.7 days.

Direxion Daily AVGO Bull 2X ETF Trading Up 0.6%

Shares of NASDAQ AVL traded up $0.24 during mid-day trading on Friday, hitting $38.42. The company had a trading volume of 571,272 shares, compared to its average volume of 632,306. The company has a market capitalization of $161.36 million, a price-to-earnings ratio of -1,921.00 and a beta of 3.87. The stock’s 50-day moving average price is $44.18 and its 200-day moving average price is $46.39. Direxion Daily AVGO Bull 2X ETF has a 1 year low of $28.95 and a 1 year high of $80.21.

Direxion Daily AVGO Bull 2X ETF Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd were given a $0.2004 dividend. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $0.80 annualized dividend and a yield of 2.1%. Direxion Daily AVGO Bull 2X ETF’s dividend payout ratio is -64,650.00%.

Institutional Trading of Direxion Daily AVGO Bull 2X ETF

A number of institutional investors and hedge funds have recently modified their holdings of AVL. Bullseye Investment Management LLC bought a new stake in Direxion Daily AVGO Bull 2X ETF in the 2nd quarter worth about $839,000. Virtu Financial LLC bought a new stake in shares of Direxion Daily AVGO Bull 2X ETF in the fourth quarter worth $1,579,000. HRT Financial LP purchased a new stake in shares of Direxion Daily AVGO Bull 2X ETF during the 4th quarter valued at about $401,000. Vestor Capital LLC bought a new position in shares of Direxion Daily AVGO Bull 2X ETF during the 4th quarter valued at approximately $2,209,000. Finally, Simplex Trading LLC bought a new position in shares of Direxion Daily AVGO Bull 2X ETF in the fourth quarter worth approximately $98,000. Institutional investors own 2.95% of the company’s stock.

About Direxion Daily AVGO Bull 2X ETF

The Direxion Daily AVGO Bull 2X Shares (AVL) is an exchange-traded fund that mostly invests in information technology equity. The fund provides 2x leveraged exposure, less fees and expenses, to the daily price movement for shares of Broadcom Inc stock. AVL was launched on Oct 10, 2024 and is issued by Direxion.