Direxion Daily GOOGL Bull 2X Shares (NASDAQ:GGLL) Trading Down 4.9% – Here’s What Happened

Direxion Daily GOOGL Bull 2X Shares (NASDAQ:GGLL) traded down 4.9% during mid-day trading on Thursday . The company traded as low as $95.33 and last traded at $97.6860. 1,766,069 shares changed hands during trading, a decline of 10% from the average session volume of 1,973,238 shares. The stock had previously closed at $102.72.

Direxion Daily GOOGL Bull 2X Shares Price Performance

The company has a market capitalization of $875.22 million, a PE ratio of 17.77 and a beta of 1.33. The company’s fifty day moving average is $83.10 and its 200-day moving average is $57.99.

Direxion Daily GOOGL Bull 2X Shares Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 17th. Stockholders of record on Wednesday, December 10th will be issued a $2.8505 dividend. The ex-dividend date is Wednesday, December 10th. This represents a $11.40 dividend on an annualized basis and a dividend yield of 11.7%. This is a boost from Direxion Daily GOOGL Bull 2X Shares’s previous quarterly dividend of $0.36.

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

A number of institutional investors have recently added to or reduced their stakes in the stock. Citigroup Inc. purchased a new position in shares of Direxion Daily GOOGL Bull 2X Shares in the 3rd quarter worth approximately $15,041,000. Oriental Harbor Investment Master Fund acquired a new stake in Direxion Daily GOOGL Bull 2X Shares in the third quarter valued at approximately $9,536,000. StoneX Group Inc. acquired a new stake in Direxion Daily GOOGL Bull 2X Shares in the second quarter valued at approximately $715,000. Simplex Trading LLC purchased a new position in Direxion Daily GOOGL Bull 2X Shares in the first quarter worth $379,000. Finally, NewEdge Advisors LLC acquired a new position in shares of Direxion Daily GOOGL Bull 2X Shares during the third quarter worth $498,000.

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.