Direxion Daily AVGO Bull 2X Shares (NASDAQ:AVL) Trading 5.5% Higher - Should You Buy?

Key Points

• Direxion Daily AVGO Bull 2X Shares (NASDAQ: AVL) experienced a 5.5% increase in trading, reaching a last traded price of $57.29 after closing at $54.29.
• The ETF has a market capitalization of $130.62 million and a price-to-earnings ratio of -2,864.50, indicating potential volatility in performance.
• Recent institutional investments show growing interest, with several firms reporting new acquisitions valued at over $1 million collectively during the second and first quarters.

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

Direxion Daily AVGO Bull 2X Shares Price Performance

The firm has a 50-day moving average of $50.73 and a 200 day moving average of $35.94. The stock has a market capitalization 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 declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 23rd were given a dividend of $0.1415 per share. The ex-dividend date of this dividend was Tuesday, September 23rd. This represents a $0.57 annualized dividend and a yield of 1.0%. Direxion Daily AVGO Bull 2X Shares's dividend payout ratio is -2,700.00%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Client First Investment Management LLC acquired a new position in Direxion Daily AVGO Bull 2X Shares during the second quarter valued at approximately $879,000. Prosperity Wealth Management Inc. acquired a new position in Direxion Daily AVGO Bull 2X Shares during the first quarter valued at approximately $350,000. Cresset Asset Management LLC bought a new stake in Direxion Daily AVGO Bull 2X Shares in the second quarter valued at approximately $236,000. Hollencrest Capital Management bought a new stake in Direxion Daily AVGO Bull 2X Shares in the first quarter valued at approximately $43,000. Finally, SBI Securities Co. Ltd. raised its stake in 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 buying an additional 756 shares during the period. 2.95% of the stock is 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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