Direxion Daily AAPL Bull 2X Shares (NASDAQ:AAPU) Trading 1% Higher – Time to Buy?

Direxion Daily AAPL Bull 2X Shares (NASDAQ:AAPU) were up 1% during trading on Wednesday . The stock traded as high as $39.66 and last traded at $39.47. Approximately 3,176,133 shares changed hands during mid-day trading, an increase of 42% from the average session volume of 2,244,088 shares. The stock had previously closed at $39.07.

Direxion Daily AAPL Bull 2X Shares Stock Up 0.5%

The firm’s 50 day simple moving average is $39.99 and its 200 day simple moving average is $34.70. The company has a market cap of $153.31 million, a price-to-earnings ratio of 25.83 and a beta of 1.75.

Direxion Daily AAPL Bull 2X Shares Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd were issued a $0.218 dividend. This represents a $0.87 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Tuesday, June 23rd.

Institutional Trading of Direxion Daily AAPL Bull 2X Shares

Hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Inc. bought a new position in shares of Direxion Daily AAPL Bull 2X Shares in the second quarter valued at approximately $50,000. Parallel Advisors LLC raised its holdings in Direxion Daily AAPL Bull 2X Shares by 107.3% during the third quarter. Parallel Advisors LLC now owns 5,080 shares of the company’s stock worth $164,000 after purchasing an additional 2,630 shares in the last quarter. Safe Harbor Fiduciary LLC bought a new stake in Direxion Daily AAPL Bull 2X Shares during the fourth quarter worth approximately $141,000. Group One Trading LLC lifted its position in Direxion Daily AAPL Bull 2X Shares by 73.5% in the third quarter. Group One Trading LLC now owns 14,985 shares of the company’s stock worth $484,000 after purchasing an additional 6,348 shares during the period. Finally, Safeguard Investment Advisory Group LLC acquired a new stake in Direxion Daily AAPL Bull 2X Shares in the third quarter worth approximately $219,000.

About Direxion Daily AAPL Bull 2X Shares

The Direxion Daily AAPL Bull 1.5X Shares (AAPU) is an exchange-traded fund that is based on the Apple Inc index. The fund provides 1.5x leveraged exposure, less fees and expenses, to the daily price movement for shares of Apple stock. AAPU was launched on Aug 9, 2022 and is managed by Direxion.