Direxion Daily GOOGL Bull 2X Shares (NASDAQ:GGLL) Hits New 12-Month High - Here's Why

Key Points

• Direxion Daily GOOGL Bull 2X Shares (NASDAQ:GGLL) reached a new 52-week high, trading at $57.17 as of Wednesday.
• The company announced a quarterly dividend increase to $0.2586, reflecting a yield of 1.8%, up from the previous dividend of $0.22.
• Institutional investments have surged, with several hedge funds significantly increasing their holdings in the Direxion Daily GOOGL Bull 2X Shares during recent quarters.

Direxion Daily GOOGL Bull 2X Shares (NASDAQ:GGLL - )'s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $56.36 and last traded at $57.17, with a volume of 1161581 shares changing hands. The stock had previously closed at $48.73.

Direxion Daily GOOGL Bull 2X Shares Stock Performance

The firm's 50-day simple moving average is $40.98 and its 200-day simple moving average is $35.25. The company has a market capitalization of $614.16 million, a price-to-earnings ratio of 17.77 and a beta of -2.73.

Direxion Daily GOOGL Bull 2X Shares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Tuesday, June 24th were given a $0.2586 dividend. This represents a $1.03 annualized dividend and a yield of 1.8%. This is a boost from Direxion Daily GOOGL Bull 2X Shares's previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Tuesday, June 24th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Toth Financial Advisory Corp increased its holdings in Direxion Daily GOOGL Bull 2X Shares by 62.7% during the 2nd quarter. Toth Financial Advisory Corp now owns 867 shares of the company's stock valued at $30,000 after purchasing an additional 334 shares in the last quarter. SOA Wealth Advisors LLC. acquired a new stake in shares of Direxion Daily GOOGL Bull 2X Shares in the second quarter valued at $53,000. Parallel Advisors LLC raised its holdings in shares of Direxion Daily GOOGL Bull 2X Shares by 48.1% in the first quarter. Parallel Advisors LLC now owns 2,000 shares of the company's stock valued at $57,000 after buying an additional 650 shares during the last quarter. Tower Research Capital LLC TRC acquired a new position in Direxion Daily GOOGL Bull 2X Shares during the 4th quarter worth about $66,000. Finally, SBI Securities Co. Ltd. lifted its position in Direxion Daily GOOGL Bull 2X Shares by 27.7% during the 2nd quarter. SBI Securities Co. Ltd. now owns 5,395 shares of the company's stock worth $187,000 after buying an additional 1,171 shares in the last quarter.

Direxion Daily GOOGL Bull 2X Shares Company Profile

The Direxion Daily GOOGL Bull 1.5X Shares ETF (GGLL) is an exchange-traded fund that is based on the Alphabet Inc Class A index. The fund provides 1.5x leveraged exposure, less fees and expenses, to the daily price movement for shares of Google stock. GGLL was launched on Sep 7, 2022 and is managed by Direxion.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.