Direxion Daily GOOGL Bull 2X Shares (NASDAQ:GGLL) Shares Down 7.9% - Time to Sell?

Key Points

• GGLL fell 7.9% intraday to $113.68, with trading volume 69% above its average; the leveraged ETF’s 50-day moving average was $114.47 and its 200-day average was $108.15.
• The fund announced a quarterly dividend of $0.5806, equivalent to $2.32 annualized and a 2.0% yield.
• Several institutional investors increased or initiated positions, including Oriental Harbor Investment Master Fund, Optiver Holding, UBS Group and Himension Capital; GGLL is designed to provide leveraged daily exposure to Alphabet Class A shares.

Direxion Daily GOOGL Bull 2X Shares (NASDAQ:GGLL - ) fell 7.9% during mid-day trading on Wednesday . The stock traded as low as $109.89 and last traded at $113.68. Approximately 2,553,830 shares were traded during mid-day trading, an increase of 69% from the average session volume of 1,514,459 shares. The stock had previously closed at $123.49.

Direxion Daily GOOGL Bull 2X Shares Trading Down 8.1%

The company's fifty day simple moving average is $114.47 and its 200 day simple moving average is $108.15. The stock has a market capitalization of $1.08 billion, a P/E ratio of 17.77 and a beta of 2.25.

Direxion Daily GOOGL Bull 2X Shares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd were given a $0.5806 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Tuesday, June 23rd.

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

Large investors have recently added to or reduced their stakes in the business. Himension Capital Singapore PTE. LTD. bought a new position in Direxion Daily GOOGL Bull 2X Shares in the 1st quarter worth about $15,133,000. Oriental Harbor Investment Master Fund boosted its position in shares of Direxion Daily GOOGL Bull 2X Shares by 117.6% during the 4th 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. Optiver Holding B.V. grew its holdings in shares of Direxion Daily GOOGL Bull 2X Shares by 222.2% during the first quarter. Optiver Holding B.V. now owns 59,633 shares of the company's stock worth $4,654,000 after purchasing an additional 41,127 shares in the last quarter. UBS Group AG grew its holdings in shares of Direxion Daily GOOGL Bull 2X Shares by 3.7% during the fourth quarter. UBS Group AG now owns 584,382 shares of the company's stock worth $56,615,000 after purchasing an additional 20,761 shares in the last quarter. Finally, HRT Financial LP bought a new position in shares of Direxion Daily GOOGL Bull 2X Shares in the fourth quarter worth approximately $936,000.

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.

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