Direxion Daily GOOGL Bull 2X Shares (NASDAQ:GGLL) Trading Down 4% – Should You Sell?

Direxion Daily GOOGL Bull 2X Shares (NASDAQ:GGLL) dropped 4% during trading on Wednesday . The stock traded as low as $89.25 and last traded at $90.0480. Approximately 419,231 shares changed hands during trading, a decline of 79% from the average daily volume of 1,963,961 shares. The stock had previously closed at $93.83.

Direxion Daily GOOGL Bull 2X Shares Stock Performance

The business has a fifty day moving average of $86.61 and a two-hundred day moving average of $60.32. The firm has a market capitalization of $841.03 million, a price-to-earnings ratio of 17.77 and a beta of 1.33.

Direxion Daily GOOGL Bull 2X Shares Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 17th. Shareholders of record on Wednesday, December 10th were issued a $2.8505 dividend. This is an increase from Direxion Daily GOOGL Bull 2X Shares’s previous quarterly dividend of $0.36. This represents a $11.40 annualized dividend and a dividend yield of 12.1%. The ex-dividend date was Wednesday, December 10th.

Institutional Trading of Direxion Daily GOOGL Bull 2X Shares

Hedge funds have recently modified their holdings of the stock. Citigroup Inc. acquired a new position in Direxion Daily GOOGL Bull 2X Shares in the 3rd quarter valued at about $15,041,000. Oriental Harbor Investment Master Fund bought a new stake in shares of Direxion Daily GOOGL Bull 2X Shares during the third quarter worth approximately $9,536,000. StoneX Group Inc. acquired a new position in shares of Direxion Daily GOOGL Bull 2X Shares in the second quarter valued at approximately $715,000. NewEdge Advisors LLC acquired a new position in shares of Direxion Daily GOOGL Bull 2X Shares in the third quarter valued at approximately $498,000. Finally, Mercer Global Advisors Inc. ADV bought a new position in shares of Direxion Daily GOOGL Bull 2X Shares during the third quarter worth approximately $217,000.

Direxion Daily GOOGL Bull 2X Shares 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.