Direxion Daily GOOGL Bull 2X Shares (NASDAQ:GGLL) Trading 6.5% Higher – Still a Buy?

Direxion Daily GOOGL Bull 2X Shares (NASDAQ:GGLL)’s share price traded up 6.5% during mid-day trading on Wednesday . The company traded as high as $122.73 and last traded at $121.98. Approximately 815,552 shares changed hands during mid-day trading, a decline of 44% from the average daily volume of 1,448,243 shares. The stock had previously closed at $114.56.

Direxion Daily GOOGL Bull 2X Shares Price Performance

The firm’s 50 day moving average price is $125.41 and its 200 day moving average price is $107.77. The stock has a market capitalization of $1.17 billion, a P/E ratio of 17.77 and a beta of 2.24.

Direxion Daily GOOGL Bull 2X Shares Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd were given a dividend of $0.5806 per share. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $2.32 dividend on an annualized basis and a yield of 1.9%.

Institutional Investors Weigh In On Direxion Daily GOOGL Bull 2X Shares

Large investors have recently made changes to their positions in the business. UBS Group AG raised its holdings in shares of Direxion Daily GOOGL Bull 2X Shares by 3.7% during the fourth quarter. UBS Group AG now owns 584,382 shares of the company’s stock valued at $56,615,000 after acquiring an additional 20,761 shares in the last quarter. Oriental Harbor Investment Master Fund raised its holdings in Direxion Daily GOOGL Bull 2X Shares by 117.6% in the 4th quarter. Oriental Harbor Investment Master Fund now owns 328,597 shares of the company’s stock worth $31,834,000 after purchasing an additional 177,587 shares in the last quarter. Himension Capital Singapore PTE. LTD. purchased a new stake in shares of Direxion Daily GOOGL Bull 2X Shares in the 1st quarter worth about $15,133,000. SG Americas Securities LLC bought a new stake in shares of Direxion Daily GOOGL Bull 2X Shares during the 4th quarter valued at about $10,415,000. Finally, Optiver Holding B.V. increased its position in shares of Direxion Daily GOOGL Bull 2X Shares by 222.2% during the first quarter. Optiver Holding B.V. now owns 59,633 shares of the company’s stock valued at $4,654,000 after buying an additional 41,127 shares during the period.

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.