Direxion Daily GOOGL Bull 2X Shares (NASDAQ:GGLL) Shares Down 7.9% – Time to Sell?

Direxion Daily GOOGL Bull 2X Shares (NASDAQ:GGLL)’s share price fell 7.9% on Wednesday . The company traded as low as $109.89 and last traded at $113.68. 2,553,830 shares changed hands during trading, an increase of 69% from the average daily volume of 1,514,459 shares. The stock had previously closed at $123.49.

Direxion Daily GOOGL Bull 2X Shares Stock Performance

The company has a market cap of $1.03 billion, a PE ratio of 17.77 and a beta of 2.25. The company’s 50 day moving average price is $113.41 and its 200-day moving average price is $108.20.

Direxion Daily GOOGL Bull 2X Shares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd were issued a dividend of $0.5806 per share. This represents a $2.32 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Tuesday, June 23rd.

Institutional Trading of Direxion Daily GOOGL Bull 2X Shares

Several hedge funds have recently made changes to their positions in GGLL. UBS Group AG grew its stake in shares of Direxion Daily GOOGL Bull 2X Shares by 3.7% during the 4th quarter. UBS Group AG now owns 584,382 shares of the company’s stock worth $56,615,000 after acquiring an additional 20,761 shares during the period. Oriental Harbor Investment Master Fund raised its stake 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 valued at $31,834,000 after acquiring an additional 177,587 shares during the period. Himension Capital Singapore PTE. LTD. purchased a new stake in Direxion Daily GOOGL Bull 2X Shares during the first quarter valued at about $15,133,000. Optiver Holding B.V. lifted its holdings in 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 purchasing an additional 41,127 shares during the last quarter. Finally, TRUE Private Wealth Advisors boosted its position in Direxion Daily GOOGL Bull 2X Shares by 1.0% during the third quarter. TRUE Private Wealth Advisors now owns 13,797 shares of the company’s stock worth $871,000 after purchasing an additional 139 shares during the period.

About Direxion Daily GOOGL Bull 2X Shares

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.