Direxion Daily AAPL Bull 2X Shares (NASDAQ:AAPU) Shares Down 1.7% - Here's What Happened

Key Points

• The stock price of Direxion Daily AAPL Bull 2X Shares (NASDAQ:AAPU) fell by 1.7% during mid-day trading, reaching a low of $25.90 before closing at $26.46.
• The company announced a quarterly dividend of $0.0843, which is part of an annualized dividend yield of 1.3%.
• Institutional investors have recently shown interest in AAPU, with significant stakes being added by firms such as PayPay Securities Corp. and JPMorgan Chase & Co..

Direxion Daily AAPL Bull 2X Shares (NASDAQ:AAPU - Get Free Report)'s stock price dropped 1.7% on Monday . The stock traded as low as $25.90 and last traded at $26.46. Approximately 6,983,899 shares were traded during trading, an increase of 146% from the average daily volume of 2,838,656 shares. The stock had previously closed at $26.91.

Direxion Daily AAPL Bull 2X Shares Stock Performance

The firm has a market cap of $336.81 million, a price-to-earnings ratio of 25.83 and a beta of -1.95. The company's fifty day moving average is $22.86 and its two-hundred day moving average is $25.01.

Direxion Daily AAPL Bull 2X Shares Cuts Dividend

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

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

Several hedge funds and other institutional investors have recently made changes to their positions in AAPU. Dagco Inc. purchased a new stake in Direxion Daily AAPL Bull 2X Shares during the 1st quarter worth $25,000. PayPay Securities Corp lifted its holdings in Direxion Daily AAPL Bull 2X Shares by 168.5% in the 2nd 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. acquired a new position in Direxion Daily AAPL Bull 2X Shares in the 2nd quarter worth $50,000. Parallel Advisors LLC acquired a new position in Direxion Daily AAPL Bull 2X Shares in the 2nd quarter worth $54,000. Finally, SBI Securities Co. Ltd. lifted its holdings in Direxion Daily AAPL Bull 2X Shares by 17.8% in the 1st 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.