Direxion Daily AMZN Bull 2X ETF (NASDAQ:AMZU) Stock Price Up 12.3% – Here’s Why

Shares of Direxion Daily AMZN Bull 2X ETF (NASDAQ:AMZU) were up 12.3% on Wednesday. The stock traded as high as $39.25 and last traded at $37.81. Approximately 3,919,960 shares changed hands during trading, an increase of 34% from the average daily volume of 2,931,985 shares. The stock had previously closed at $33.68.

Direxion Daily AMZN Bull 2X ETF Price Performance

The stock has a fifty day simple moving average of $35.29 and a 200-day simple moving average of $35.11. The company has a market capitalization of $342.27 million, a price-to-earnings ratio of 32.75 and a beta of 2.51.

Hedge Funds Weigh In On Direxion Daily AMZN Bull 2X ETF

Several large investors have recently made changes to their positions in AMZU. Renaissance Technologies LLC acquired a new position in shares of Direxion Daily AMZN Bull 2X ETF in the first quarter worth about $752,000. SOA Wealth Advisors LLC. boosted its position in Direxion Daily AMZN Bull 2X ETF by 56.9% during the first quarter. SOA Wealth Advisors LLC. now owns 1,764 shares of the company’s stock worth $47,000 after purchasing an additional 640 shares in the last quarter. StoneX Group Inc. acquired a new stake in Direxion Daily AMZN Bull 2X ETF in the third quarter valued at approximately $620,000. Parallel Advisors LLC grew its holdings in Direxion Daily AMZN Bull 2X ETF by 75.0% in the third quarter. Parallel Advisors LLC now owns 3,500 shares of the company’s stock valued at $119,000 after purchasing an additional 1,500 shares during the period. Finally, Tactive Advisors LLC increased its position in shares of Direxion Daily AMZN Bull 2X ETF by 20.0% in the third quarter. Tactive Advisors LLC now owns 9,000 shares of the company’s stock valued at $306,000 after buying an additional 1,500 shares in the last quarter.

About Direxion Daily AMZN Bull 2X ETF

The Direxion Daily AMZN Bull 1.5X Shares ETF (AMZU) is an exchange-traded fund that is based on the Amazon.com, Inc index. The fund provides 1.5x leveraged exposure, less fees and expenses, to the daily price movement for shares of Amazon stock. AMZU was launched on Sep 7, 2022 and is managed by Direxion.