Direxion Daily AVGO Bull 2X Shares (NASDAQ:AVL) Stock Price Up 5.5% - Time to Buy?

Key Points

• The Direxion Daily AVGO Bull 2X Shares (NASDAQ:AVL) saw a significant price increase of 5.5% on Wednesday, reaching a last traded price of $57.29.
• The company recently declared a quarterly dividend of $0.1415, with an annualized dividend of $0.57 and a yield of 1.0%.
• Institutional investors have increased their holdings in AVL, including SBI Securities Co. Ltd. expanding its position by 1,843.9% in the second quarter.

Direxion Daily AVGO Bull 2X Shares (NASDAQ:AVL - ) shares rose 5.5% during mid-day trading on Wednesday . The stock traded as high as $57.50 and last traded at $57.29. Approximately 422,486 shares traded hands during mid-day trading, a decline of 13% from the average daily volume of 486,447 shares. The stock had previously closed at $54.29.

Direxion Daily AVGO Bull 2X Shares Trading Up 5.5%

The company has a 50 day simple moving average of $50.73 and a 200-day simple moving average of $35.94. The stock has a market cap of $130.62 million and a price-to-earnings ratio of -2,864.50.

Direxion Daily AVGO Bull 2X Shares Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 23rd were given a $0.1415 dividend. The ex-dividend date of this dividend was Tuesday, September 23rd. This represents a $0.57 dividend on an annualized basis and a dividend yield of 1.0%. Direxion Daily AVGO Bull 2X Shares's payout ratio is currently -2,700.00%.

Institutional Trading of Direxion Daily AVGO Bull 2X Shares

A number of hedge funds and other institutional investors have recently modified their holdings of AVL. SBI Securities Co. Ltd. increased its position in shares of Direxion Daily AVGO Bull 2X Shares by 1,843.9% in the second quarter. SBI Securities Co. Ltd. now owns 797 shares of the company's stock valued at $31,000 after acquiring an additional 756 shares during the last quarter. Hollencrest Capital Management acquired a new stake in shares of Direxion Daily AVGO Bull 2X Shares in the first quarter valued at about $43,000. Cresset Asset Management LLC acquired a new stake in shares of Direxion Daily AVGO Bull 2X Shares in the second quarter valued at about $236,000. Prosperity Wealth Management Inc. acquired a new stake in shares of Direxion Daily AVGO Bull 2X Shares in the first quarter valued at about $350,000. Finally, Client First Investment Management LLC acquired a new stake in shares of Direxion Daily AVGO Bull 2X Shares in the second quarter valued at about $879,000. Institutional investors and hedge funds own 2.95% of the company's stock.

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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