Direxion Daily AAPL Bull 2X ETF (NASDAQ:AAPU) Share Price Crosses Below 50 Day Moving Average – Time to Sell?

Direxion Daily AAPL Bull 2X ETF (NASDAQ:AAPU)’s stock price crossed below its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $44.61 and traded as low as $41.81. Direxion Daily AAPL Bull 2X ETF shares last traded at $43.36, with a volume of 1,321,651 shares traded.

Direxion Daily AAPL Bull 2X ETF Stock Performance

The business’s 50 day moving average price is $44.61 and its 200-day moving average price is $37.36. The firm has a market cap of $127.91 million, a price-to-earnings ratio of 25.83 and a beta of 1.73.

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

Several large investors have recently added to or reduced their stakes in the stock. StoneX Group Inc. bought a new position in shares of Direxion Daily AAPL Bull 2X ETF in the third quarter worth $999,000. SBI Securities Co. Ltd. grew its stake in shares of Direxion Daily AAPL Bull 2X ETF by 9.4% in the 3rd quarter. SBI Securities Co. Ltd. now owns 3,176 shares of the company’s stock worth $140,000 after purchasing an additional 272 shares during the last quarter. Finally, Safeguard Investment Advisory Group LLC bought a new position in shares of Direxion Daily AAPL Bull 2X ETF in the second quarter valued at $237,000.

About Direxion Daily AAPL Bull 2X ETF

The Direxion Daily AAPL Bull 1.5X Shares (AAPU) is an exchange-traded fund that is based on the Apple Inc index. The fund provides 1.5x leveraged exposure, less fees and expenses, to the daily price movement for shares of Apple stock. AAPU was launched on Aug 9, 2022 and is managed by Direxion.