Direxion Daily AVGO Bull 2X ETF (NASDAQ:AVL) Short Interest Up 210.2% in August

Direxion Daily AVGO Bull 2X ETF (NASDAQ:AVL) saw a large growth in short interest during the month of August. As of August 31st, there was short interest totaling 1,300,437 shares, a growth of 210.2% from the August 15th total of 419,277 shares. Currently, 31.0% of the shares of the company are sold short. Based on an average daily trading volume, of 749,968 shares, the days-to-cover ratio is currently 1.7 days.

Direxion Daily AVGO Bull 2X ETF Stock Performance

NASDAQ AVL traded up $0.24 on Friday, hitting $38.42. 571,272 shares of the stock traded hands, compared to its average volume of 632,306. The business’s fifty day moving average is $44.18 and its two-hundred day moving average is $46.39. Direxion Daily AVGO Bull 2X ETF has a 12 month low of $28.95 and a 12 month high of $80.21. The firm has a market capitalization of $161.36 million, a price-to-earnings ratio of -1,921.00 and a beta of 3.87.

Direxion Daily AVGO Bull 2X ETF Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd were paid a dividend of $0.2004 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Tuesday, June 23rd. Direxion Daily AVGO Bull 2X ETF’s payout ratio is presently -64,650.00%.

Hedge Funds Weigh In On Direxion Daily AVGO Bull 2X ETF

Large investors have recently modified their holdings of the company. Group One Trading LLC lifted its stake in Direxion Daily AVGO Bull 2X ETF by 374.4% in the 3rd quarter. Group One Trading LLC now owns 593 shares of the company’s stock worth $31,000 after purchasing an additional 468 shares in the last quarter. Simplex Trading LLC purchased a new position in shares of Direxion Daily AVGO Bull 2X ETF during the 4th quarter valued at $98,000. Cresset Asset Management LLC purchased a new position in shares of Direxion Daily AVGO Bull 2X ETF during the 2nd quarter valued at $236,000. HRT Financial LP bought a new position in shares of Direxion Daily AVGO Bull 2X ETF in the fourth quarter worth $401,000. Finally, Bullseye Investment Management LLC bought a new position in shares of Direxion Daily AVGO Bull 2X ETF in the second quarter worth $839,000. 2.95% of the stock is currently owned by institutional investors.

Direxion Daily AVGO Bull 2X ETF Company Profile

The Direxion Daily AVGO Bull 2X Shares (AVL) is an exchange-traded fund that mostly invests in information technology equity. The fund provides 2x leveraged exposure, less fees and expenses, to the daily price movement for shares of Broadcom Inc stock. AVL was launched on Oct 10, 2024 and is issued by Direxion.