Direxion Daily AVGO Bull 2X Shares (NASDAQ:AVL) Shares Up 0.6% - What's Next?

Key Points

• Shares of Direxion Daily AVGO Bull 2X Shares (NASDAQ:AVL) rose about 0.6% mid-day to $49.20 (intraday high $49.55) on ~451,531 shares traded, roughly 22% below its average daily volume of 579,323.
• The fund raised its quarterly dividend to $0.2562 per share (annualized $1.02), up from $0.16, which implies a 2.1% yield.
• AVL, launched Oct. 10, 2024 and issued by Direxion, provides 2x leveraged exposure to Broadcom Inc.

Direxion Daily AVGO Bull 2X Shares (NASDAQ:AVL - )'s share price were up 0.6% during mid-day trading on Tuesday . The company traded as high as $49.55 and last traded at $49.20. Approximately 451,531 shares traded hands during trading, a decline of 22% from the average daily volume of 579,323 shares. The stock had previously closed at $48.90.

Direxion Daily AVGO Bull 2X Shares Stock Performance

The company's 50-day moving average price is $37.80 and its 200 day moving average price is $47.56. The stock has a market cap of $196.80 million, a PE ratio of -2,460.00 and a beta of 2.25.

Direxion Daily AVGO Bull 2X Shares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 24th were issued a dividend of $0.2562 per share. This is an increase from Direxion Daily AVGO Bull 2X Shares's previous quarterly dividend of $0.16. This represents a $1.02 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Tuesday, March 24th. Direxion Daily AVGO Bull 2X Shares's dividend payout ratio is currently -64,600.00%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Group One Trading LLC increased its stake in shares of Direxion Daily AVGO Bull 2X Shares by 374.4% in the 3rd quarter. Group One Trading LLC now owns 593 shares of the company's stock worth $31,000 after purchasing an additional 468 shares in the last quarter. Simplex Trading LLC bought a new stake in Direxion Daily AVGO Bull 2X Shares during the fourth quarter valued at about $98,000. SBI Securities Co. Ltd. grew its holdings in Direxion Daily AVGO Bull 2X Shares by 241.5% during the third quarter. SBI Securities Co. Ltd. now owns 2,722 shares of the company's stock valued at $142,000 after purchasing an additional 1,925 shares during the period. FWG Investments LLC. purchased a new stake in Direxion Daily AVGO Bull 2X Shares in the fourth quarter worth about $201,000. Finally, Cresset Asset Management LLC purchased a new stake in Direxion Daily AVGO Bull 2X Shares in the second quarter worth about $236,000. Hedge funds and other institutional investors own 2.95% of the company's stock.

About Direxion Daily AVGO Bull 2X Shares

The Direxion Daily AVGO Bull 2X Shares (AVL) is an exchange-traded fund that mostly invests in information technology equity. The fund provides 2x leveraged exposure, less fees and expenses, to the daily price movement for shares of Broadcom Inc stock. AVL was launched on Oct 10, 2024 and is issued by Direxion.

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