Direxion Daily AVGO Bull 2X Shares (NASDAQ:AVL) Trading Up 3% - Here's What Happened

Key Points

• Direxion Daily AVGO Bull 2X Shares (NASDAQ:AVL) rose 3% in Tuesday trading, reaching as high as $48.23 before last trading at $46.37. Volume was lighter than usual, with about 257,186 shares changing hands versus an average of 596,345.
• The ETF recently paid a quarterly dividend of $0.2004 per share, equal to an annualized yield of about 1.7%. The ex-dividend date and record date were both June 23, with payment made on June 30.
• AVL is a 2x leveraged ETF designed to track the daily price movement of Broadcom Inc. stock, minus fees and expenses. Hedge-fund ownership remains small, with institutional investors holding about 2.95% of the shares.

Direxion Daily AVGO Bull 2X Shares (NASDAQ:AVL - )'s share price traded up 3% during mid-day trading on Tuesday . The stock traded as high as $48.23 and last traded at $46.37. Approximately 257,186 shares changed hands during mid-day trading, a decline of 57% from the average session volume of 596,345 shares. The stock had previously closed at $45.03.

Direxion Daily AVGO Bull 2X Shares Price Performance

The firm's 50 day moving average is $52.46 and its 200 day moving average is $45.59. The company has a market capitalization of $211.91 million, a PE ratio of -2,318.50 and a beta of 3.97.

Direxion Daily AVGO Bull 2X Shares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd were issued a $0.2004 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Tuesday, June 23rd. Direxion Daily AVGO Bull 2X Shares's dividend payout ratio (DPR) is -64,650.00%.

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

Hedge funds have recently modified their holdings of the company. Group One Trading LLC boosted its holdings in shares of Direxion Daily AVGO Bull 2X Shares by 374.4% during the third quarter. Group One Trading LLC now owns 593 shares of the company's stock worth $31,000 after purchasing an additional 468 shares during the period. Simplex Trading LLC purchased a new position in Direxion Daily AVGO Bull 2X Shares during the 4th quarter valued at about $98,000. FWG Investments LLC. bought a new position in Direxion Daily AVGO Bull 2X Shares during the 4th quarter valued at approximately $201,000. SBI Securities Co. Ltd. raised its position in Direxion Daily AVGO Bull 2X Shares by 70.2% during the 4th quarter. SBI Securities Co. Ltd. now owns 4,632 shares of the company's stock valued at $204,000 after purchasing an additional 1,910 shares during the last quarter. Finally, Cresset Asset Management LLC purchased a new stake in Direxion Daily AVGO Bull 2X Shares in the 2nd quarter worth approximately $236,000. Hedge funds and other institutional investors 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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