Direxion Daily NFLX Bull 2X ETF (NASDAQ:NFXL) Stock Jumps 9.6% – What’s Next?

Direxion Daily NFLX Bull 2X ETF (NASDAQ:NFXL)’s stock price was up 9.6% on Wednesday. The company traded as high as $12.44 and last traded at $12.31. Approximately 1,775,446 shares were traded during trading, an increase of 43% from the average session volume of 1,238,231 shares. The stock had previously closed at $11.23.

Direxion Daily NFLX Bull 2X ETF Stock Down 6.7%

The stock’s fifty day moving average price is $14.56 and its 200-day moving average price is $20.89.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. StoneX Group Inc. acquired a new stake in shares of Direxion Daily NFLX Bull 2X ETF during the 3rd quarter valued at approximately $378,000. SBI Securities Co. Ltd. increased its position in shares of Direxion Daily NFLX Bull 2X ETF by 7.9% in the third quarter. SBI Securities Co. Ltd. now owns 15,463 shares of the company’s stock valued at $214,000 after buying an additional 1,126 shares in the last quarter. Optiver Holding B.V. increased its holdings in Direxion Daily NFLX Bull 2X ETF by 16.3% during the 1st quarter. Optiver Holding B.V. now owns 11,847 shares of the company’s stock valued at $356,000 after acquiring an additional 1,663 shares in the last quarter. Finally, Parallel Advisors LLC increased its stake in shares of Direxion Daily NFLX Bull 2X ETF by 22.3% during the 3rd quarter. Parallel Advisors LLC now owns 6,300 shares of the company’s stock worth $87,000 after purchasing an additional 1,150 shares in the last quarter.

About Direxion Daily NFLX Bull 2X ETF

The Direxion Daily NFLX Bull 2X Shares (NFXL) is an exchange-traded fund that mostly invests in communication services equity. The fund provides 2x leveraged exposure, less fees and expenses, to the daily price movement for shares of Netflix stock. NFXL was launched on Oct 3, 2024 and is issued by Direxion.