Direxion Daily AMZN Bull 2X Shares (NASDAQ:AMZU) Trading 2.6% Higher – Should You Buy?

Direxion Daily AMZN Bull 2X Shares (NASDAQ:AMZU)’s share price shot up 2.6% during mid-day trading on Thursday . The stock traded as high as $36.05 and last traded at $35.65. 2,003,713 shares changed hands during mid-day trading, a decline of 15% from the average session volume of 2,365,956 shares. The stock had previously closed at $34.76.

Direxion Daily AMZN Bull 2X Shares Stock Performance

The stock has a market capitalization of $335.30 million, a P/E ratio of 32.75 and a beta of 1.95. The business has a 50 day simple moving average of $35.88 and a 200-day simple moving average of $37.18.

Direxion Daily AMZN Bull 2X Shares Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 17th. Investors of record on Wednesday, December 10th were issued a $1.2027 dividend. This represents a $4.81 dividend on an annualized basis and a dividend yield of 13.0%. The ex-dividend date was Wednesday, December 10th. This is an increase from Direxion Daily AMZN Bull 2X Shares’s previous quarterly dividend of $0.22.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Direxion Daily AMZN Bull 2X Shares in the 4th quarter worth $47,000. FNY Investment Advisers LLC purchased a new stake in Direxion Daily AMZN Bull 2X Shares during the fourth quarter valued at about $25,000. SeaCrest Wealth Management LLC acquired a new position in shares of Direxion Daily AMZN Bull 2X Shares in the fourth quarter worth about $333,000. PVG Asset Management Corp purchased a new position in shares of Direxion Daily AMZN Bull 2X Shares in the third quarter worth approximately $478,000. Finally, TRUE Private Wealth Advisors raised its holdings in shares of Direxion Daily AMZN Bull 2X Shares by 1.3% during the third quarter. TRUE Private Wealth Advisors now owns 53,509 shares of the company’s stock valued at $1,861,000 after acquiring an additional 683 shares during the period.

About Direxion Daily AMZN Bull 2X Shares

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.