Direxion Daily AMZN Bull 2X Shares (NASDAQ:AMZU) Stock Price Down 1.7% - Here's What Happened

Key Points

• AMZU fell 1.7% in mid-day trading to $39.52, after reaching a low of $39.42. Trading volume was about 2.13 million shares, 35% below its average daily volume.
• The leveraged ETF recently paid a quarterly dividend of $0.1722, equivalent to an annualized $0.69 and a 1.7% yield.
• Institutional activity was largely positive, with UBS Group increasing its stake by nearly 9,913% and Jane Street raising its position by 52.3%; AMZU targets 1.5x the daily performance of Amazon stock, before fees and expenses.

Direxion Daily AMZN Bull 2X Shares (NASDAQ:AMZU - ) dropped 1.7% during mid-day trading on Thursday . The company traded as low as $39.42 and last traded at $39.52. Approximately 2,128,973 shares traded hands during trading, a decline of 35% from the average daily volume of 3,292,164 shares. The stock had previously closed at $40.19.

Direxion Daily AMZN Bull 2X Shares Stock Down 1.7%

The company has a market cap of $357.66 million, a P/E ratio of 32.75 and a beta of 2.49. The business's 50 day moving average is $35.73 and its 200 day moving average is $34.75.

Direxion Daily AMZN Bull 2X Shares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd were issued a $0.1722 dividend. The ex-dividend date was Tuesday, June 23rd. This represents a $0.69 dividend on an annualized basis and a dividend yield of 1.7%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. UBS Group AG lifted its stake in shares of Direxion Daily AMZN Bull 2X Shares by 9,912.7% during the 4th quarter. UBS Group AG now owns 456,078 shares of the company's stock worth $15,940,000 after purchasing an additional 451,523 shares during the last quarter. SG Americas Securities LLC bought a new position in Direxion Daily AMZN Bull 2X Shares in the first quarter worth about $2,546,000. Virtu Financial LLC purchased a new stake in shares of Direxion Daily AMZN Bull 2X Shares during the fourth quarter valued at about $1,976,000. TRUE Private Wealth Advisors lifted its position in shares of Direxion Daily AMZN Bull 2X Shares by 1.3% during the third quarter. TRUE Private Wealth Advisors now owns 53,509 shares of the company's stock valued at $1,861,000 after buying an additional 683 shares during the last quarter. Finally, Jane Street Group LLC lifted its position in shares of Direxion Daily AMZN Bull 2X Shares by 52.3% during the first quarter. Jane Street Group LLC now owns 38,665 shares of the company's stock valued at $1,158,000 after buying an additional 13,270 shares during the last quarter.

Direxion Daily AMZN Bull 2X Shares 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.

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