Direxion Daily GOOGL Bull 2X Shares (NASDAQ:GGLL) Stock Price Down 3.9% – Here’s What Happened

Shares of Direxion Daily GOOGL Bull 2X Shares (NASDAQ:GGLL) dropped 3.9% during mid-day trading on Wednesday . The company traded as low as $121.16 and last traded at $121.16. Approximately 245,451 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 1,468,578 shares. The stock had previously closed at $126.05.

Direxion Daily GOOGL Bull 2X Shares Trading Down 4.5%

The firm has a market capitalization of $1.06 billion, a P/E ratio of 17.77 and a beta of 2.19. The stock’s 50-day simple moving average is $122.58 and its 200-day simple moving average is $105.75.

Direxion Daily GOOGL Bull 2X Shares Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 24th were paid a $0.5798 dividend. The ex-dividend date was Tuesday, March 24th. This is a positive change from Direxion Daily GOOGL Bull 2X Shares’s previous quarterly dividend of $0.34. This represents a $2.32 dividend on an annualized basis and a yield of 1.9%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GGLL. PayPay Securities Corp boosted its stake in Direxion Daily GOOGL Bull 2X Shares by 93.8% in the fourth quarter. PayPay Securities Corp now owns 409 shares of the company’s stock valued at $40,000 after acquiring an additional 198 shares during the last quarter. Flow Traders U.S. LLC purchased a new position in Direxion Daily GOOGL Bull 2X Shares in the third quarter valued at about $204,000. Group One Trading LLC boosted its stake in Direxion Daily GOOGL Bull 2X Shares by 22.6% in the second quarter. Group One Trading LLC now owns 5,898 shares of the company’s stock valued at $205,000 after acquiring an additional 1,087 shares during the last quarter. Clay Northam Wealth Management LLC purchased a new position in Direxion Daily GOOGL Bull 2X Shares in the fourth quarter valued at about $206,000. Finally, Optiver Holding B.V. purchased a new position in Direxion Daily GOOGL Bull 2X Shares in the third quarter valued at about $212,000.

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.