Direxion Daily GOOGL Bull 2X Shares (NASDAQ:GGLL) Sets New 12-Month High - Time to Buy?

Key Points

• Direxion Daily GOOGL Bull 2X Shares (GGLL) reached a new 52-week high Wednesday, trading as high as $142.28 and last at $139.28, with a market cap of $1.23 billion and its 50- and 200-day moving averages near $95.
• The fund raised its quarterly dividend to $0.5798 (annualized $2.32) for a 1.7% yield, up from the prior quarterly payout of $0.34.
• GGLL is a Direxion-managed ETF that provides 1.5x leveraged daily exposure to Alphabet Class A, and institutional interest has increased—notably Oriental Harbor boosted its stake 117.6% to about 328,597 shares while SG Americas and Citigroup established new positions.

Direxion Daily GOOGL Bull 2X Shares (NASDAQ:GGLL - )'s stock price reached a new 52-week high on Wednesday . The company traded as high as $142.28 and last traded at $139.28, with a volume of 1141819 shares trading hands. The stock had previously closed at $135.56.

Direxion Daily GOOGL Bull 2X Shares Stock Up 2.7%

The stock has a market cap of $1.23 billion, a P/E ratio of 17.77 and a beta of 2.27. The firm's fifty day moving average price is $94.68 and its 200-day moving average price is $95.03.

Direxion Daily GOOGL Bull 2X Shares Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 24th were given a dividend of $0.5798 per share. This represents a $2.32 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Tuesday, March 24th. This is an increase from Direxion Daily GOOGL Bull 2X Shares's previous quarterly dividend of $0.34.

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

Hedge funds have recently modified their holdings of the company. Oriental Harbor Investment Master Fund raised its stake in shares of Direxion Daily GOOGL Bull 2X Shares by 117.6% during the fourth quarter. Oriental Harbor Investment Master Fund now owns 328,597 shares of the company's stock valued at $31,834,000 after acquiring an additional 177,587 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Direxion Daily GOOGL Bull 2X Shares in the fourth quarter worth about $10,415,000. Citigroup Inc. purchased a new position in Direxion Daily GOOGL Bull 2X Shares during the 3rd quarter valued at about $15,041,000. PayPay Securities Corp increased its holdings in Direxion Daily GOOGL Bull 2X Shares by 93.8% during the 4th quarter. PayPay Securities Corp now owns 409 shares of the company's stock valued at $40,000 after purchasing an additional 198 shares during the period. Finally, Group One Trading LLC raised its position in Direxion Daily GOOGL Bull 2X Shares by 22.6% during the 2nd quarter. Group One Trading LLC now owns 5,898 shares of the company's stock valued at $205,000 after purchasing an additional 1,087 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.

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