Direxion Daily AVGO Bull 2X Shares (NASDAQ:AVL) Trading Down 5.2% - Here's What Happened

Key Points

• Direxion Daily AVGO Bull 2X Shares fell 5.2% to $38.15 on Monday, with trading volume 32% below its average. The ETF’s price was well below its 50-day and 200-day moving averages.
• The fund paid a quarterly dividend of $0.2004 per share, equivalent to an annualized $0.80 dividend and a 2.1% yield.
• AVL provides 2x leveraged daily exposure to Broadcom’s stock and carries significant volatility, reflected in its 3.97 beta. Hedge funds and other institutions owned 2.95% of the fund.

Direxion Daily AVGO Bull 2X Shares (NASDAQ:AVL - ) dropped 5.2% during trading on Monday . The stock traded as low as $38.14 and last traded at $38.15. 387,334 shares traded hands during trading, a decline of 32% from the average daily volume of 571,414 shares. The stock had previously closed at $40.23.

Direxion Daily AVGO Bull 2X Shares Trading Down 5.2%

The stock's 50 day moving average price is $45.94 and its two-hundred day moving average price is $46.43. The firm has a market capitalization of $160.23 million, a price-to-earnings ratio of -1,907.50 and a beta of 3.97.

Direxion Daily AVGO Bull 2X Shares Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd were issued a dividend of $0.2004 per share. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $0.80 dividend on an annualized basis and a yield of 2.1%. Direxion Daily AVGO Bull 2X Shares's payout ratio is currently -64,650.00%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Group One Trading LLC lifted its position in shares of Direxion Daily AVGO Bull 2X Shares by 374.4% during the 3rd quarter. Group One Trading LLC now owns 593 shares of the company's stock valued at $31,000 after acquiring an additional 468 shares during the period. Simplex Trading LLC acquired a new stake in shares of Direxion Daily AVGO Bull 2X Shares in the 4th quarter worth approximately $98,000. SBI Securities Co. Ltd. grew its holdings in shares of Direxion Daily AVGO Bull 2X Shares by 70.2% in the 4th quarter. SBI Securities Co. Ltd. now owns 4,632 shares of the company's stock worth $204,000 after acquiring an additional 1,910 shares during the period. Cresset Asset Management LLC purchased a new position in Direxion Daily AVGO Bull 2X Shares in the 2nd quarter valued at approximately $236,000. Finally, HRT Financial LP purchased a new position in Direxion Daily AVGO Bull 2X Shares in the 4th quarter valued at approximately $401,000. 2.95% of the stock is owned by hedge funds and other institutional investors.

Direxion Daily AVGO Bull 2X Shares Company Profile

The Direxion Daily AVGO Bull 2X Shares (AVL) is an exchange-traded fund that mostly invests in information technology equity. The fund provides 2x leveraged exposure, less fees and expenses, to the daily price movement for shares of Broadcom Inc stock. AVL was launched on Oct 10, 2024 and is issued by Direxion.

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