Direxion Daily AMZN Bull 2X Shares (NASDAQ:AMZU) Stock Price Up 3% – Time to Buy?

Shares of Direxion Daily AMZN Bull 2X Shares (NASDAQ:AMZU) rose 3% during trading on Thursday . The stock traded as high as $39.21 and last traded at $38.64. Approximately 2,499,643 shares changed hands during trading, a decline of 23% from the average daily volume of 3,253,226 shares. The stock had previously closed at $37.53.

Direxion Daily AMZN Bull 2X Shares Trading Down 6.2%

The business’s 50 day moving average is $38.32 and its 200 day moving average is $34.81. The stock has a market capitalization of $369.03 million, a PE ratio of 32.75 and a beta of 2.48.

Direxion Daily AMZN Bull 2X Shares Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 24th were issued a dividend of $0.1694 per share. The ex-dividend date was Tuesday, March 24th. This represents a $0.68 dividend on an annualized basis and a yield of 1.9%.

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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SOA Wealth Advisors LLC. lifted its holdings in Direxion Daily AMZN Bull 2X Shares by 56.9% during the 1st quarter. SOA Wealth Advisors LLC. now owns 1,764 shares of the company’s stock valued at $47,000 after buying an additional 640 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in Direxion Daily AMZN Bull 2X Shares by 13.8% in the second quarter. Tower Research Capital LLC TRC now owns 5,500 shares of the company’s stock worth $202,000 after purchasing an additional 665 shares in the last quarter. TRUE Private Wealth Advisors grew its stake in Direxion Daily AMZN Bull 2X Shares by 1.3% in the third quarter. TRUE Private Wealth Advisors now owns 53,509 shares of the company’s stock worth $1,861,000 after purchasing an additional 683 shares in the last quarter. FNY Investment Advisers LLC bought a new position in Direxion Daily AMZN Bull 2X Shares in the fourth quarter worth approximately $25,000. Finally, Safe Harbor Fiduciary LLC bought a new position in Direxion Daily AMZN Bull 2X Shares in the fourth quarter worth approximately $41,000.

About Direxion Daily AMZN Bull 2X Shares

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.