Stock Traders Buy High Volume of Call Options on Direxion Daily GOOGL Bull 2X Shares (NASDAQ:GGLL)

Key Points

• Unusual options activity: Traders bought 10,625 call options on GGLL on Friday, about a 426% increase versus the average daily call volume.
• Dividend hike: Direxion declared a quarterly dividend of $0.5798 per share (annualized $2.32), up from the prior quarterly payout of $0.34, implying a ~1.7% yield.
• ETF profile and recent trading: GGLL is a leveraged ETF providing 1.5x exposure to Alphabet Class A, has a $1.22B market cap, and traded at $135.73 midday—near its 52-week high of $138—on heavy volume.

Direxion Daily GOOGL Bull 2X Shares (NASDAQ:GGLL - ) was the target of some unusual options trading activity on Friday. Stock traders acquired 10,625 call options on the company. This represents an increase of approximately 426% compared to the average volume of 2,021 call options.

Direxion Daily GOOGL Bull 2X Shares Stock Performance

Shares of Direxion Daily GOOGL Bull 2X Shares stock traded down $1.02 during midday trading on Friday, reaching $135.73. 1,156,695 shares of the company's stock traded hands, compared to its average volume of 1,463,378. The company has a market cap of $1.22 billion, a price-to-earnings ratio of 17.77 and a beta of 1.52. The company's 50 day simple moving average is $93.82 and its 200 day simple moving average is $94.10. Direxion Daily GOOGL Bull 2X Shares has a 52 week low of $25.22 and a 52 week high of $138.00.

Direxion Daily GOOGL Bull 2X Shares Increases Dividend

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of GGLL. Hollencrest Capital Management raised its holdings in shares of Direxion Daily GOOGL Bull 2X Shares by 1,650.0% during the 3rd quarter. Hollencrest Capital Management now owns 525 shares of the company's stock valued at $33,000 after purchasing an additional 495 shares in the last quarter. PayPay Securities Corp raised its holdings in shares of 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 in the last quarter. Flow Traders U.S. LLC bought a new position in Direxion Daily GOOGL Bull 2X Shares in the 3rd quarter worth $204,000. Group One Trading LLC lifted 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 worth $205,000 after acquiring an additional 1,087 shares during the last quarter. Finally, Clay Northam Wealth Management LLC acquired a new position in Direxion Daily GOOGL Bull 2X Shares during the 4th quarter worth $206,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.