Direxion Daily GOOGL Bull 2X ETF (NASDAQ:GGLL) Shares Gap Down – Should You Sell?

Direxion Daily GOOGL Bull 2X ETF (NASDAQ:GGLL) gapped down prior to trading on Wednesday . The stock had previously closed at $97.84, but opened at $93.85. Direxion Daily GOOGL Bull 2X ETF shares last traded at $92.8160, with a volume of 1,129,027 shares changing hands.

Direxion Daily GOOGL Bull 2X ETF Price Performance

The stock has a 50-day moving average price of $104.85 and a 200-day moving average price of $107.92. The company has a market capitalization of $899.16 million, a P/E ratio of 17.77 and a beta of 2.23.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GGLL. Group One Trading LLC lifted its position in shares of Direxion Daily GOOGL Bull 2X ETF by 22.6% in the 2nd quarter. Group One Trading LLC now owns 5,898 shares of the company’s stock worth $205,000 after purchasing an additional 1,087 shares during the period. TRUE Private Wealth Advisors increased its position in shares of Direxion Daily GOOGL Bull 2X ETF by 1.0% during the third quarter. TRUE Private Wealth Advisors now owns 13,797 shares of the company’s stock worth $871,000 after buying an additional 139 shares during the period. Flow Traders U.S. LLC bought a new position in Direxion Daily GOOGL Bull 2X ETF during the third quarter worth $204,000. Mercer Global Advisors Inc. ADV bought a new position in Direxion Daily GOOGL Bull 2X ETF during the third quarter worth $217,000. Finally, NewEdge Advisors LLC acquired a new position in Direxion Daily GOOGL Bull 2X ETF in the third quarter valued at $498,000.

Direxion Daily GOOGL Bull 2X ETF 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.