Direxion Daily AVGO Bull 2X ETF (NASDAQ:AVL) Shares Climb 1.6% – Still a Buy?

Direxion Daily AVGO Bull 2X ETF (NASDAQ:AVL) shares rose 1.6% during mid-day trading on Tuesday. The stock traded as high as $37.03 and last traded at $36.67. Approximately 848,826 shares traded hands during mid-day trading, an increase of 19% from the average daily volume of 713,371 shares. The stock had previously closed at $36.10.

Direxion Daily AVGO Bull 2X ETF Stock Performance

The business has a fifty day moving average of $39.88 and a two-hundred day moving average of $46.38. The firm has a market cap of $266.19 million, a price-to-earnings ratio of -1,695.50 and a beta of 3.94.

Direxion Daily AVGO Bull 2X ETF Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 22nd were given a dividend of $0.1981 per share. This represents a $0.79 dividend on an annualized basis and a yield of 2.3%. This is a drop from Direxion Daily AVGO Bull 2X ETF’s previous quarterly dividend of $0.2004. The ex-dividend date of this dividend was Tuesday, September 22nd. Direxion Daily AVGO Bull 2X ETF’s dividend payout ratio (DPR) is presently -64,950.00%.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Direxion Daily AVGO Bull 2X ETF stock. Bullseye Investment Management LLC bought a new stake in Direxion Daily AVGO Bull 2X ETF (NASDAQ:AVL) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 18,972 shares of the company’s stock, valued at approximately $839,000. Bullseye Investment Management LLC owned 0.45% of Direxion Daily AVGO Bull 2X ETF at the end of the most recent reporting period. 2.95% of the stock is owned by institutional investors and hedge funds.

Direxion Daily AVGO Bull 2X ETF Company Profile

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.