Direxion Daily GOOGL Bull 2X Shares (NASDAQ:GGLL) Stock Price Down 6% – Should You Sell?

Direxion Daily GOOGL Bull 2X Shares (NASDAQ:GGLL)’s stock price fell 6% on Tuesday . The company traded as low as $103.42 and last traded at $103.71. Approximately 947,816 shares were traded during mid-day trading, a decline of 37% from the average session volume of 1,507,756 shares. The stock had previously closed at $110.37.

Direxion Daily GOOGL Bull 2X Shares Stock Down 6.6%

The company has a market capitalization of $981.70 million, a P/E ratio of 17.77 and a beta of 2.25. The stock has a fifty day simple moving average of $112.56 and a 200-day simple moving average of $108.27.

Direxion Daily GOOGL Bull 2X Shares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors 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 dividend yield of 2.3%.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. UBS Group AG increased its holdings 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 buying an additional 20,761 shares in the last quarter. Oriental Harbor Investment Master Fund boosted its holdings 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 acquiring an additional 177,587 shares in the last quarter. Himension Capital Singapore PTE. LTD. acquired a new position in shares of Direxion Daily GOOGL Bull 2X Shares in the 1st quarter worth approximately $15,133,000. Optiver Holding B.V. grew its position in Direxion Daily GOOGL Bull 2X Shares by 222.2% during the 1st quarter. Optiver Holding B.V. now owns 59,633 shares of the company’s stock worth $4,654,000 after acquiring an additional 41,127 shares during the last quarter. Finally, TRUE Private Wealth Advisors grew its position in Direxion Daily GOOGL Bull 2X Shares by 1.0% during the 3rd quarter. TRUE Private Wealth Advisors now owns 13,797 shares of the company’s stock worth $871,000 after acquiring an additional 139 shares during the last quarter.

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.