Direxion Daily AAPL Bull 2X Shares (NASDAQ:AAPU) Stock Price Down 1.4% - Here's Why

Direxion Daily AAPL Bull 2X Shares (NASDAQ:AAPU - Get Free Report)'s stock price traded down 1.4% on Monday . The company traded as low as $28.38 and last traded at $28.75. 1,556,208 shares were traded during trading, a decline of 45% from the average session volume of 2,849,795 shares. The stock had previously closed at $29.17.

Direxion Daily AAPL Bull 2X Shares Stock Up 3.4%

The business has a 50-day moving average price of $25.15 and a two-hundred day moving average price of $24.28. The company has a market capitalization of $340.00 million, a price-to-earnings ratio of 25.83 and a beta of -1.95.

Direxion Daily AAPL Bull 2X Shares Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 24th were given a dividend of $0.0843 per share. This represents a $0.34 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Tuesday, June 24th.

Hedge Funds Weigh In On Direxion Daily AAPL Bull 2X Shares

Institutional investors have recently modified their holdings of the company. Dagco Inc. bought a new stake in Direxion Daily AAPL Bull 2X Shares during the first quarter worth $25,000. PayPay Securities Corp grew its holdings in Direxion Daily AAPL Bull 2X Shares by 168.5% during the second quarter. PayPay Securities Corp now owns 1,313 shares of the company's stock worth $29,000 after buying an additional 824 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Direxion Daily AAPL Bull 2X Shares during the second quarter worth $50,000. Parallel Advisors LLC bought a new stake in Direxion Daily AAPL Bull 2X Shares during the second quarter worth $54,000. Finally, SBI Securities Co. Ltd. grew its holdings in Direxion Daily AAPL Bull 2X Shares by 17.8% during the first quarter. SBI Securities Co. Ltd. now owns 3,903 shares of the company's stock worth $110,000 after buying an additional 591 shares in the last quarter.

Direxion Daily AAPL Bull 2X Shares Company Profile

The Direxion Daily AAPL Bull 1.5X Shares (AAPU) is an exchange-traded fund that is based on the Apple Inc index. The fund provides 1.5x leveraged exposure, less fees and expenses, to the daily price movement for shares of Apple stock. AAPU was launched on Aug 9, 2022 and is managed by Direxion.