Direxion Daily GOOGL Bull 2X ETF (NASDAQ:GGLL) Reaches New 52-Week Low – Here’s Why

Direxion Daily GOOGL Bull 2X ETF (NASDAQ:GGLL) hit a new 52-week low on Thursday. The stock traded as low as $62.13 and last traded at $65.7160, with a volume of 2,426,127 shares changing hands. The stock had previously closed at $67.68.

Direxion Daily GOOGL Bull 2X ETF Trading Down 2.5%

The stock’s 50-day moving average price is $94.90 and its 200-day moving average price is $104.54. The company has a market cap of $727.13 million, a P/E ratio of 17.77 and a beta of 2.23.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. StoneX Group Inc. acquired a new position in shares of Direxion Daily GOOGL Bull 2X ETF during the third quarter worth approximately $1,210,000. Parallel Advisors LLC lifted its holdings in shares of Direxion Daily GOOGL Bull 2X ETF by 100.0% in the 3rd quarter. Parallel Advisors LLC now owns 600 shares of the company’s stock worth $60,000 after purchasing an additional 300 shares in the last quarter. Kingswood Wealth Advisors LLC lifted its holdings in shares of Direxion Daily GOOGL Bull 2X ETF by 25.0% in the 3rd quarter. Kingswood Wealth Advisors LLC now owns 2,500 shares of the company’s stock worth $249,000 after purchasing an additional 500 shares in the last quarter. SBI Securities Co. Ltd. grew its position in Direxion Daily GOOGL Bull 2X ETF by 121.2% in the 3rd quarter. SBI Securities Co. Ltd. now owns 15,392 shares of the company’s stock valued at $1,530,000 after purchasing an additional 8,435 shares during the period. Finally, Bullseye Investment Management LLC acquired a new stake in Direxion Daily GOOGL Bull 2X ETF in the 2nd quarter valued at $664,000.

About Direxion Daily GOOGL Bull 2X ETF

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.