Direxion Daily AMZN Bull 2X Shares (NASDAQ:AMZU) Trading Down 1.7% - What's Next?

Key Points

• Shares fell 1.7% on Monday to $37.72 (intraday low $36.82) with trading volume ~2.29M shares, down about 30% from the average daily volume.
• The ETF offers leveraged exposure to Amazon (Direxion-managed; launched Sep 7, 2022) and the firm reported a quarterly dividend of $0.1694 (annualized $0.68, yield ~1.8%), paid March 31 with an ex-dividend date of March 24.
• Big institutional activity: UBS dramatically increased its stake by 9,912.7% to 456,078 shares (~$15.94M), while other firms like SG Americas and Virtu also added positions.

Direxion Daily AMZN Bull 2X Shares (NASDAQ:AMZU - ) shares were down 1.7% during trading on Monday . The company traded as low as $36.82 and last traded at $37.72. Approximately 2,290,136 shares were traded during trading, a decline of 30% from the average daily volume of 3,261,604 shares. The stock had previously closed at $38.39.

Direxion Daily AMZN Bull 2X Shares Stock Down 1.7%

The company has a market cap of $332.69 million, a price-to-earnings ratio of 32.75 and a beta of 2.01. The company has a fifty day simple moving average of $28.94 and a two-hundred day simple moving average of $33.74.

Direxion Daily AMZN Bull 2X Shares Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 24th were given a $0.1694 dividend. The ex-dividend date was Tuesday, March 24th. This represents a $0.68 annualized dividend and a dividend yield of 1.8%.

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

Several hedge funds have recently added to or reduced their stakes in the business. UBS Group AG raised its position in Direxion Daily AMZN Bull 2X Shares by 9,912.7% during the fourth quarter. UBS Group AG now owns 456,078 shares of the company's stock worth $15,940,000 after acquiring an additional 451,523 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Direxion Daily AMZN Bull 2X Shares during the 1st quarter worth approximately $2,546,000. Group One Trading LLC raised its position in shares of Direxion Daily AMZN Bull 2X Shares by 122.2% during the 3rd quarter. Group One Trading LLC now owns 76,418 shares of the company's stock worth $2,658,000 after purchasing an additional 42,031 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Direxion Daily AMZN Bull 2X Shares during the 4th quarter worth approximately $1,976,000. Finally, TRUE Private Wealth Advisors lifted its stake in Direxion Daily AMZN Bull 2X Shares by 1.3% in the 3rd 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 in the last quarter.

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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