Direxion Daily GOOGL Bull 2X Shares (NASDAQ:GGLL) Shares Up 5.4% - Here's Why

Key Points

• Direxion Daily GOOGL Bull 2X Shares (NASDAQ:GGLL) experienced a 5.4% increase in share price, closing at $71.41 after trading as high as $72.32.
• The market cap of Direxion Daily GOOGL Bull 2X Shares stands at approximately $497.73 million, with a P/E ratio of 17.77.
• Several institutional investors, including Oriental Harbor Investment Master Fund, have made significant purchases of shares, indicating growing interest in the stock.

Direxion Daily GOOGL Bull 2X Shares (NASDAQ:GGLL - )'s share price traded up 5.4% on Friday . The company traded as high as $72.32 and last traded at $71.41. 1,524,555 shares traded hands during trading, a decline of 18% from the average session volume of 1,869,454 shares. The stock had previously closed at $67.73.

Direxion Daily GOOGL Bull 2X Shares Trading Up 5.4%

The stock's fifty day moving average price is $60.54 and its 200 day moving average price is $43.34. The stock has a market cap of $497.73 million, a P/E ratio of 17.77 and a beta of -2.73.

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

A number of institutional investors have recently made changes to their positions in the stock. Oriental Harbor Investment Master Fund bought a new position in shares of Direxion Daily GOOGL Bull 2X Shares in the 3rd quarter worth $9,536,000. StoneX Group Inc. purchased a new stake in shares of Direxion Daily GOOGL Bull 2X Shares in the 2nd quarter valued at $715,000. Simplex Trading LLC purchased a new stake in Direxion Daily GOOGL Bull 2X Shares during the 1st quarter valued at $379,000. Southern Capital Advisors LLC boosted its position in Direxion Daily GOOGL Bull 2X Shares by 4.3% during the 2nd quarter. Southern Capital Advisors LLC now owns 12,203 shares of the company's stock valued at $424,000 after buying an additional 506 shares during the period. Finally, Group One Trading LLC boosted 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 buying an additional 1,087 shares during the period.

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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