Direxion Daily GOOGL Bull 2X Shares (NASDAQ:GGLL) Trading Down 7.9% – Here’s Why

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

Direxion Daily GOOGL Bull 2X Shares Stock Performance

The stock’s 50 day simple moving average is $114.47 and its 200 day simple moving average is $108.15. The firm has a market cap of $1.08 billion, a PE ratio of 17.77 and a beta of 2.25.

Direxion Daily GOOGL Bull 2X Shares Announces Dividend

The company 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 was Tuesday, June 23rd. This represents a $2.32 dividend on an annualized basis and a yield of 2.0%.

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

Institutional investors have recently made changes to their positions in the business. Group One Trading LLC grew its position in Direxion Daily GOOGL Bull 2X Shares by 22.6% during the 2nd quarter. Group One Trading LLC now owns 5,898 shares of the company’s stock worth $205,000 after acquiring an additional 1,087 shares during the last quarter. TRUE Private Wealth Advisors lifted 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 valued at $871,000 after buying an additional 139 shares during the period. Flow Traders U.S. LLC bought a new position in shares of Direxion Daily GOOGL Bull 2X Shares during the third quarter valued at approximately $204,000. Mercer Global Advisors Inc. ADV bought a new position in Direxion Daily GOOGL Bull 2X Shares during the 3rd quarter valued at approximately $217,000. Finally, NewEdge Advisors LLC bought a new position in Direxion Daily GOOGL Bull 2X Shares in the 3rd quarter worth about $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.