Direxion Daily GOOGL Bull 2X Shares (NASDAQ:GGLL) Sees Large Growth in Short Interest

Direxion Daily GOOGL Bull 2X Shares (NASDAQ:GGLL - Get Free Report) was the recipient of a large growth in short interest in May. As of May 31st, there was short interest totalling 1,250,000 shares, a growth of 34.9% from the May 15th total of 926,400 shares. Based on an average daily volume of 2,087,500 shares, the short-interest ratio is currently 0.6 days. Currently, 17.1% of the company's stock are sold short.

Direxion Daily GOOGL Bull 2X Shares Stock Performance

Shares of Direxion Daily GOOGL Bull 2X Shares stock traded down $2.61 on Friday, hitting $31.50. The company had a trading volume of 3,618,810 shares, compared to its average volume of 1,131,536. Direxion Daily GOOGL Bull 2X Shares has a 1 year low of $23.60 and a 1 year high of $53.72. The stock has a 50 day moving average of $31.35 and a 200-day moving average of $37.56. The stock has a market capitalization of $229.95 million, a price-to-earnings ratio of 17.77 and a beta of -2.73.

Direxion Daily GOOGL Bull 2X Shares Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 25th were issued a dividend of $0.2172 per share. The ex-dividend date was Tuesday, March 25th. This represents a $0.87 annualized dividend and a yield of 2.76%.

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

Several large investors have recently bought and sold shares of the stock. Parallel Advisors LLC grew its stake in shares of Direxion Daily GOOGL Bull 2X Shares by 48.1% in the 1st quarter. Parallel Advisors LLC now owns 2,000 shares of the company's stock worth $57,000 after acquiring an additional 650 shares in the last quarter. Tower Research Capital LLC TRC purchased a new position in shares of Direxion Daily GOOGL Bull 2X Shares in the fourth quarter worth about $66,000. Hollencrest Capital Management purchased a new position in Direxion Daily GOOGL Bull 2X Shares in the 4th quarter valued at approximately $92,000. SBI Securities Co. Ltd. bought a new stake in shares of Direxion Daily GOOGL Bull 2X Shares during the 4th quarter valued at $201,000. Finally, Chung Wu Investment Group LLC bought a new stake in shares of Direxion Daily GOOGL Bull 2X Shares during the fourth quarter valued at about $242,000.

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.