Direxion Daily GOOGL Bull 2X Shares (NASDAQ:GGLL) Trading 7.4% Higher – Still a Buy?

Direxion Daily GOOGL Bull 2X Shares (NASDAQ:GGLL)’s stock price traded up 7.4% during mid-day trading on Friday . The stock traded as high as $105.16 and last traded at $104.30. 754,487 shares were traded during mid-day trading, a decline of 49% from the average daily volume of 1,493,381 shares. The stock had previously closed at $97.09.

Direxion Daily GOOGL Bull 2X Shares Stock Up 11.8%

The company has a market capitalization of $974.51 million, a price-to-earnings ratio of 17.77 and a beta of 2.24. The business has a fifty day simple moving average of $115.52 and a two-hundred day simple moving average of $107.98.

Direxion Daily GOOGL Bull 2X Shares Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd were given a dividend of $0.5806 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Tuesday, June 23rd.

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

Several hedge funds have recently added to or reduced their stakes in GGLL. Himension Capital Singapore PTE. LTD. bought a new stake in shares of Direxion Daily GOOGL Bull 2X Shares during the 1st quarter valued at $15,133,000. Oriental Harbor Investment Master Fund boosted its position in shares of 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 worth $31,834,000 after purchasing an additional 177,587 shares during the last quarter. Optiver Holding B.V. grew its stake in shares of 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 worth $4,654,000 after purchasing an additional 41,127 shares during the period. UBS Group AG grew its stake in shares of Direxion Daily GOOGL Bull 2X Shares by 3.7% during the fourth quarter. UBS Group AG now owns 584,382 shares of the company’s stock worth $56,615,000 after purchasing an additional 20,761 shares during the period. Finally, HRT Financial LP bought a new stake in Direxion Daily GOOGL Bull 2X Shares in the fourth quarter valued at about $936,000.

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.