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

Key Points

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Direxion Daily GOOGL Bull 2X Shares (NASDAQ:GGLL - Get Free Report) was the recipient of a significant decrease in short interest in July. As of July 31st, there was short interest totaling 998,300 shares, adecreaseof34.8% 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 currently 0.3 days. Currently,9.2% of the shares of the stock are sold short. Currently,9.2% 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 currently 0.3 days.

Direxion Daily GOOGL Bull 2X Shares Trading Up 6.3%

Shares of Direxion Daily GOOGL Bull 2X Shares stock traded up $2.74 on Friday, reaching $46.46. The stock 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 1 year low of $23.60 and a 1 year high of $53.72. The company has a market cap of $501.77 million, a P/E ratio of 17.77 and a beta of -2.73. The business's 50 day moving average is $38.87 and its two-hundred day moving average is $34.92.

Direxion Daily GOOGL Bull 2X Shares Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 24th were issued a $0.2586 dividend. The ex-dividend date of this dividend was Tuesday, June 24th. This is a positive change from Direxion Daily GOOGL Bull 2X Shares's previous quarterly dividend of $0.22. This represents a $1.03 dividend on an annualized basis and a dividend yield of 2.2%.

Institutional Investors Weigh In On Direxion Daily GOOGL Bull 2X Shares

A number of institutional investors and hedge funds have recently modified their holdings of GGLL. Southern Capital Advisors LLC bought a new position in shares of Direxion Daily GOOGL Bull 2X Shares in the first quarter worth approximately $336,000. Jane Street Group LLC bought a new position in shares of Direxion Daily GOOGL Bull 2X Shares in the fourth quarter worth approximately $306,000. Simplex Trading LLC bought a new position in shares of Direxion Daily GOOGL Bull 2X Shares in the first quarter worth approximately $379,000. Tower Research Capital LLC TRC bought a new position in shares of Direxion Daily GOOGL Bull 2X Shares in the fourth quarter worth approximately $66,000. Finally, Parallel Advisors LLC increased its position 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 worth $57,000 after purchasing an additional 650 shares during 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.