Direxion Daily GOOGL Bull 2X Shares (NASDAQ:GGLL) Trading Down 4.8% – Should You Sell?

Direxion Daily GOOGL Bull 2X Shares (NASDAQ:GGLL)’s share price fell 4.8% during mid-day trading on Monday . The company traded as low as $97.35 and last traded at $97.87. Approximately 449,945 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 1,454,324 shares. The stock had previously closed at $102.82.

Direxion Daily GOOGL Bull 2X Shares Stock Performance

The stock’s 50-day moving average price is $106.66 and its 200-day moving average price is $107.63. The company has a market capitalization of $914.40 million, a price-to-earnings 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. Investors of record on Tuesday, June 23rd were issued a $0.5806 dividend. The ex-dividend date was Tuesday, June 23rd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.4%.

Hedge Funds Weigh In On Direxion Daily GOOGL Bull 2X Shares

Hedge funds and other institutional investors have recently bought and sold shares of the company. Group One Trading LLC boosted its position in Direxion Daily GOOGL Bull 2X Shares by 22.6% during the second quarter. Group One Trading LLC now owns 5,898 shares of the company’s stock worth $205,000 after purchasing an additional 1,087 shares in the last quarter. TRUE Private Wealth Advisors increased its position in shares of Direxion Daily GOOGL Bull 2X Shares by 1.0% in 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 in the last quarter. Flow Traders U.S. LLC purchased a new position in shares of Direxion Daily GOOGL Bull 2X Shares in the third quarter valued at $204,000. Mercer Global Advisors Inc. ADV purchased a new position in shares of Direxion Daily GOOGL Bull 2X Shares in the third quarter valued at $217,000. Finally, NewEdge Advisors LLC acquired a new position in shares of Direxion Daily GOOGL Bull 2X Shares during the 3rd quarter worth $498,000.

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.