Direxion Daily GOOGL Bull 2X ETF (NASDAQ:GGLL) Shares Gap Up – Still a Buy?

Shares of Direxion Daily GOOGL Bull 2X ETF (NASDAQ:GGLL) gapped up before the market opened on Friday . The stock had previously closed at $102.50, but opened at $107.71. Direxion Daily GOOGL Bull 2X ETF shares last traded at $106.8160, with a volume of 876,120 shares changing hands.

Direxion Daily GOOGL Bull 2X ETF Stock Up 2.4%

The company’s fifty day moving average is $103.26 and its 200 day moving average is $108.19. The stock has a market cap of $998.87 million, a PE ratio of 17.77 and a beta of 2.23.

Institutional Investors Weigh In On Direxion Daily GOOGL Bull 2X ETF

Several institutional investors and hedge funds have recently modified their holdings of the stock. Optiver Holding B.V. boosted its holdings in Direxion Daily GOOGL Bull 2X ETF by 222.2% in the 1st quarter. Optiver Holding B.V. now owns 59,633 shares of the company’s stock worth $4,654,000 after acquiring an additional 41,127 shares during the period. Himension Capital Singapore PTE. LTD. acquired a new stake in Direxion Daily GOOGL Bull 2X ETF in the first quarter valued at approximately $15,133,000. IMC Chicago LLC purchased a new stake in shares of Direxion Daily GOOGL Bull 2X ETF during the first quarter valued at approximately $437,000. Bullseye Investment Management LLC purchased a new stake in shares of Direxion Daily GOOGL Bull 2X ETF during the second quarter valued at approximately $664,000. Finally, Turner Financial Group Inc. purchased a new stake in shares of Direxion Daily GOOGL Bull 2X ETF during the second quarter valued at approximately $445,000.

About Direxion Daily GOOGL Bull 2X ETF

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.