Direxion Daily AMZN Bull 2X Shares (NASDAQ:AMZU) Trading Down 1.7% – What’s Next?

Shares of Direxion Daily AMZN Bull 2X Shares (NASDAQ:AMZU) traded down 1.7% during mid-day trading on Thursday . The stock traded as low as $39.42 and last traded at $39.52. 2,128,973 shares changed hands during mid-day trading, a decline of 35% from the average session volume of 3,292,164 shares. The stock had previously closed at $40.19.

Direxion Daily AMZN Bull 2X Shares Stock Performance

The firm’s 50-day simple moving average is $35.78 and its 200 day simple moving average is $34.78. The stock has a market capitalization of $350.87 million, a P/E ratio of 32.75 and a beta of 2.49.

Direxion Daily AMZN Bull 2X Shares Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd were given a dividend of $0.1722 per share. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $0.69 annualized dividend and a yield of 1.8%.

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

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Tactive Advisors LLC bought a new position in shares of Direxion Daily AMZN Bull 2X Shares in the second quarter valued at $249,000. SOA Wealth Advisors LLC. lifted its stake in Direxion Daily AMZN Bull 2X Shares by 56.9% in the first quarter. SOA Wealth Advisors LLC. now owns 1,764 shares of the company’s stock valued at $47,000 after acquiring an additional 640 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of Direxion Daily AMZN Bull 2X Shares in the 1st quarter valued at about $752,000. Hoey Investments Inc. increased its stake in shares of Direxion Daily AMZN Bull 2X Shares by 26.8% during the 1st quarter. Hoey Investments Inc. now owns 19,406 shares of the company’s stock worth $521,000 after purchasing an additional 4,100 shares during the last quarter. Finally, Focused Wealth Management Inc increased its stake in shares of Direxion Daily AMZN Bull 2X Shares by 16.2% during the 1st quarter. Focused Wealth Management Inc now owns 20,606 shares of the company’s stock worth $553,000 after purchasing an additional 2,876 shares during the last quarter.

Direxion Daily AMZN Bull 2X Shares Company Profile

The Direxion Daily AMZN Bull 1.5X Shares ETF (AMZU) is an exchange-traded fund that is based on the Amazon.com, Inc index. The fund provides 1.5x leveraged exposure, less fees and expenses, to the daily price movement for shares of Amazon stock. AMZU was launched on Sep 7, 2022 and is managed by Direxion.