Direxion Daily GOOGL Bull 2X Shares (NASDAQ:GGLL) Short Interest Down 70.8% in May

Direxion Daily GOOGL Bull 2X Shares (NASDAQ:GGLL) saw a significant drop in short interest in May. As of May 29th, there was short interest totaling 467,101 shares, a drop of 70.8% from the May 14th total of 1,602,042 shares. Based on an average daily trading volume, of 1,267,120 shares, the short-interest ratio is presently 0.4 days. Approximately 5.3% of the shares of the stock are short sold.

Direxion Daily GOOGL Bull 2X Shares Stock Down 1.7%

Shares of GGLL traded down $1.93 during mid-day trading on Thursday, reaching $113.22. 1,828,662 shares of the company’s stock were exchanged, compared to its average volume of 1,477,933. The company has a 50-day simple moving average of $119.45 and a two-hundred day simple moving average of $105.25. Direxion Daily GOOGL Bull 2X Shares has a 52-week low of $29.75 and a 52-week high of $153.00. The company has a market cap of $998.60 million, a price-to-earnings ratio of 17.77 and a beta of 2.19.

Direxion Daily GOOGL Bull 2X Shares Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 24th were paid a dividend of $0.5798 per share. This is a positive change from Direxion Daily GOOGL Bull 2X Shares’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Tuesday, March 24th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.0%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of GGLL. PayPay Securities Corp increased its stake in shares of Direxion Daily GOOGL Bull 2X Shares by 93.8% during the 4th quarter. PayPay Securities Corp now owns 409 shares of the company’s stock worth $40,000 after purchasing an additional 198 shares in the last quarter. Flow Traders U.S. LLC purchased a new position in shares of Direxion Daily GOOGL Bull 2X Shares during the 3rd quarter worth approximately $204,000. Group One Trading LLC increased its stake in shares of Direxion Daily GOOGL Bull 2X Shares by 22.6% during the 2nd quarter. Group One Trading LLC now owns 5,898 shares of the company’s stock worth $205,000 after purchasing an additional 1,087 shares in the last quarter. Clay Northam Wealth Management LLC purchased a new position in shares of Direxion Daily GOOGL Bull 2X Shares during the 4th quarter worth approximately $206,000. Finally, Optiver Holding B.V. purchased a new position in shares of Direxion Daily GOOGL Bull 2X Shares during the 3rd quarter worth approximately $212,000.

Direxion Daily GOOGL Bull 2X Shares Company Profile

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.