Direxion Daily GOOGL Bull 2X Shares (NASDAQ:GGLL) Trading Down 5% – Time to Sell?

Shares of Direxion Daily GOOGL Bull 2X Shares (NASDAQ:GGLL) fell 5% on Thursday . The company traded as low as $108.85 and last traded at $109.36. 781,955 shares changed hands during mid-day trading, a decline of 47% from the average session volume of 1,467,720 shares. The stock had previously closed at $115.15.

Direxion Daily GOOGL Bull 2X Shares Stock Performance

The stock has a 50 day moving average of $119.45 and a two-hundred day moving average of $105.25. The firm has a market capitalization of $988.90 million, a P/E ratio of 17.77 and a beta of 2.19.

Direxion Daily GOOGL Bull 2X Shares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 24th were paid a $0.5798 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Tuesday, March 24th. This is a positive change from Direxion Daily GOOGL Bull 2X Shares’s previous quarterly dividend of $0.34.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. PayPay Securities Corp raised its stake in shares of Direxion Daily GOOGL Bull 2X Shares by 93.8% in the 4th quarter. PayPay Securities Corp now owns 409 shares of the company’s stock valued at $40,000 after acquiring an additional 198 shares in the last quarter. Flow Traders U.S. LLC bought a new position in shares of Direxion Daily GOOGL Bull 2X Shares in the 3rd quarter valued at approximately $204,000. Group One Trading LLC raised its stake in shares of Direxion Daily GOOGL Bull 2X Shares by 22.6% in the 2nd quarter. Group One Trading LLC now owns 5,898 shares of the company’s stock valued at $205,000 after acquiring an additional 1,087 shares in the last quarter. Clay Northam Wealth Management LLC bought a new position in shares of Direxion Daily GOOGL Bull 2X Shares in the 4th quarter valued at approximately $206,000. Finally, Optiver Holding B.V. bought a new position in shares of Direxion Daily GOOGL Bull 2X Shares in the 3rd quarter valued at approximately $212,000.

Direxion Daily GOOGL Bull 2X Shares Company Profile

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