Direxion Daily AVGO Bull 2X Shares (NASDAQ:AVL) Stock Price Up 19.6% - Should You Buy?

Key Points

• Direxion Daily AVGO Bull 2X Shares (NASDAQ: AVL) saw a significant price increase of 19.6%, reaching a last traded price of $66.18, up from a previous close of $55.35.
• The stock also announced a quarterly dividend of $0.1904, which translates to an annualized yield of 1.2%, marking an increase from the previous dividend of $0.13.
• Institutional investors have taken interest, with several firms acquiring new stakes, including Jane Street Group LLC and Bank of America Corp DE, reflecting growing confidence in the stock.

Direxion Daily AVGO Bull 2X Shares (NASDAQ:AVL - ) shares rose 19.6% during mid-day trading on Wednesday . The stock traded as high as $67.27 and last traded at $66.18. Approximately 916,243 shares traded hands during mid-day trading, an increase of 85% from the average daily volume of 496,128 shares. The stock had previously closed at $55.35.

Direxion Daily AVGO Bull 2X Shares Stock Performance

The firm's 50 day moving average is $44.31 and its 200-day moving average is $31.17. The stock has a market capitalization of $155.52 million and a price-to-earnings ratio of -3,309.00.

Direxion Daily AVGO Bull 2X Shares Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Tuesday, June 24th were given a $0.1904 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.2%. This is an increase from Direxion Daily AVGO Bull 2X Shares's previous quarterly dividend of $0.13. The ex-dividend date was Tuesday, June 24th. Direxion Daily AVGO Bull 2X Shares's payout ratio is currently -2,000.00%.

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

A number of institutional investors have recently modified their holdings of the business. Jane Street Group LLC acquired a new position in Direxion Daily AVGO Bull 2X Shares in the 4th quarter worth about $1,391,000. Bank of America Corp DE acquired a new stake in Direxion Daily AVGO Bull 2X Shares in the fourth quarter valued at approximately $869,000. Client First Investment Management LLC acquired a new stake in Direxion Daily AVGO Bull 2X Shares in the second quarter valued at approximately $879,000. Prosperity Wealth Management Inc. purchased a new stake in shares of Direxion Daily AVGO Bull 2X Shares in the first quarter valued at approximately $350,000. Finally, Cresset Asset Management LLC acquired a new position in shares of Direxion Daily AVGO Bull 2X Shares during the 2nd quarter worth approximately $236,000. 2.95% of the stock is currently owned by institutional investors and hedge funds.

Direxion Daily AVGO Bull 2X Shares Company Profile

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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