Direxion Daily AMZN Bull 2X Shares (NASDAQ:AMZU) Trading 2.1% Higher - Still a Buy?

Key Points

• Direxion Daily AMZN Bull 2X Shares (AMZU) saw a 2.1% increase in trading, reaching a last price of $35.64, amidst significant trading activity of nearly 2.8 million shares.
• The fund has a market capitalization of $259.46 million and a P/E ratio of 32.75, indicating its financial performance metrics in the investment landscape.
• Multiple institutional investors have notably increased their stakes in AMZU, with Group One Trading LLC raising its holdings by 898.5% during the second quarter.

Direxion Daily AMZN Bull 2X Shares (NASDAQ:AMZU - ) shares traded up 2.1% on Monday . The stock traded as high as $35.71 and last traded at $35.64. 2,797,711 shares were traded during trading, an increase of 89% from the average session volume of 1,477,383 shares. The stock had previously closed at $34.90.

Direxion Daily AMZN Bull 2X Shares Stock Up 2.1%

The company has a market cap of $259.46 million, a P/E ratio of 32.75 and a beta of -2.52. The company's 50-day moving average is $38.20 and its two-hundred day moving average is $34.23.

Institutional Investors Weigh In On Direxion Daily AMZN Bull 2X Shares

Several institutional investors have recently added to or reduced their stakes in AMZU. Summit Trail Advisors LLC purchased a new stake in Direxion Daily AMZN Bull 2X Shares during the first quarter valued at about $4,947,000. Group One Trading LLC lifted its holdings in Direxion Daily AMZN Bull 2X Shares by 898.5% during the second quarter. Group One Trading LLC now owns 34,387 shares of the company's stock valued at $1,261,000 after purchasing an additional 30,943 shares during the last quarter. SBI Securities Co. Ltd. lifted its holdings in Direxion Daily AMZN Bull 2X Shares by 309.2% during the first quarter. SBI Securities Co. Ltd. now owns 22,220 shares of the company's stock valued at $666,000 after purchasing an additional 16,790 shares during the last quarter. Jane Street Group LLC lifted its holdings in 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 purchasing an additional 13,270 shares during the last quarter. Finally, HUB Investment Partners LLC purchased a new stake in Direxion Daily AMZN Bull 2X Shares during the second quarter valued at about $281,000.

About Direxion Daily AMZN Bull 2X Shares

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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