Direxion Daily AMZN Bull 2X ETF (NASDAQ:AMZU) Stock Jumps 12.3% – Still a Buy?

Shares of Direxion Daily AMZN Bull 2X ETF (NASDAQ:AMZU) traded up 12.3% during trading on Wednesday. The stock traded as high as $39.25 and last traded at $37.81. 3,919,960 shares changed hands during mid-day trading, an increase of 34% from the average daily volume of 2,931,985 shares. The stock had previously closed at $33.68.

Direxion Daily AMZN Bull 2X ETF Price Performance

The stock’s 50 day simple moving average is $35.34 and its two-hundred day simple moving average is $35.11. The stock has a market cap of $361.09 million, a price-to-earnings ratio of 32.75 and a beta of 2.51.

Institutional Trading of Direxion Daily AMZN Bull 2X ETF

Institutional investors have recently made changes to their positions in the business. SOA Wealth Advisors LLC. raised its position in Direxion Daily AMZN Bull 2X ETF by 56.9% in the first quarter. SOA Wealth Advisors LLC. now owns 1,764 shares of the company’s stock worth $47,000 after purchasing an additional 640 shares in the last quarter. Parallel Advisors LLC lifted its stake in Direxion Daily AMZN Bull 2X ETF by 75.0% during the third quarter. Parallel Advisors LLC now owns 3,500 shares of the company’s stock worth $119,000 after purchasing an additional 1,500 shares during the period. Tactive Advisors LLC acquired a new stake in Direxion Daily AMZN Bull 2X ETF during the second quarter valued at approximately $249,000. Turner Financial Group Inc. acquired a new stake in Direxion Daily AMZN Bull 2X ETF during the second quarter valued at approximately $295,000. Finally, StoneX Group Inc. acquired a new stake in Direxion Daily AMZN Bull 2X ETF during the third quarter valued at approximately $620,000.

Direxion Daily AMZN Bull 2X ETF Company Profile

The Direxion Daily AMZN Bull 1.5X Shares ETF (AMZU) is an exchange-traded fund that is based on the Amazon.com, Inc index. The fund provides 1.5x leveraged exposure, less fees and expenses, to the daily price movement for shares of Amazon stock. AMZU was launched on Sep 7, 2022 and is managed by Direxion.