Direxion Daily GOOGL Bull 2X Shares (NASDAQ:GGLL) Short Interest Down 34.8% in July

Key Points

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Direxion Daily GOOGL Bull 2X Shares (NASDAQ:GGLL - Get Free Report) was the recipient of a significant decline in short interest in July. As of July 31st, there was short interest totaling 998,300 shares, adeclineof34.8% from the July 15th total of 1,530,000 shares. Based on an average daily trading volume, of 2,872,200 shares, the days-to-cover ratio is presently 0.3 days. Approximately9.2% of the shares of the stock are sold short. Approximately9.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 2,872,200 shares, the days-to-cover ratio is presently 0.3 days.

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

Several hedge funds have recently modified their holdings of GGLL. Toth Financial Advisory Corp raised its stake in Direxion Daily GOOGL Bull 2X Shares by 62.7% during the second 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. purchased a new stake in Direxion Daily GOOGL Bull 2X Shares during the second quarter valued at $53,000. Parallel Advisors LLC raised its stake in Direxion Daily GOOGL Bull 2X Shares by 48.1% during the first quarter. Parallel Advisors LLC now owns 2,000 shares of the company's stock valued at $57,000 after purchasing an additional 650 shares in the last quarter. Tower Research Capital LLC TRC purchased a new stake in Direxion Daily GOOGL Bull 2X Shares during the fourth quarter valued at $66,000. Finally, SBI Securities Co. Ltd. raised its stake in Direxion Daily GOOGL Bull 2X Shares by 27.7% during the second quarter. SBI Securities Co. Ltd. now owns 5,395 shares of the company's stock valued at $187,000 after purchasing an additional 1,171 shares in the last quarter.

Direxion Daily GOOGL Bull 2X Shares Price Performance

Shares of GGLL stock traded up $2.74 during mid-day trading on Friday, hitting $46.46. The company had a trading volume of 2,536,690 shares, compared to its average volume of 1,979,108. Direxion Daily GOOGL Bull 2X Shares has a 52-week low of $23.60 and a 52-week high of $53.72. The stock's 50 day moving average price is $38.87 and its 200-day moving average price is $34.99. The company has a market capitalization of $501.77 million, a P/E ratio of 17.77 and a beta of -2.73.

Direxion Daily GOOGL Bull 2X Shares Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 24th were issued a $0.2586 dividend. This represents a $1.03 annualized dividend and a dividend yield of 2.2%. 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.

About Direxion Daily GOOGL Bull 2X Shares

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.