Direxion Daily GOOGL Bull 2X Shares (NASDAQ:GGLL) Stock Price Up 6.5% – Should You Buy?

Direxion Daily GOOGL Bull 2X Shares (NASDAQ:GGLL)’s stock price traded up 6.5% on Wednesday . The stock traded as high as $122.73 and last traded at $121.98. 815,552 shares were traded during trading, a decline of 44% from the average session volume of 1,448,243 shares. The stock had previously closed at $114.56.

Direxion Daily GOOGL Bull 2X Shares Stock Performance

The stock has a market cap of $1.07 billion, a PE ratio of 17.77 and a beta of 2.24. The firm has a 50-day moving average price of $124.23 and a 200-day moving average price of $108.04.

Direxion Daily GOOGL Bull 2X Shares Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd were issued a $0.5806 dividend. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $2.32 annualized dividend and a yield of 2.1%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Optiver Holding B.V. increased its position in shares of Direxion Daily GOOGL Bull 2X Shares by 222.2% during the first quarter. Optiver Holding B.V. now owns 59,633 shares of the company’s stock valued at $4,654,000 after acquiring an additional 41,127 shares in the last quarter. Himension Capital Singapore PTE. LTD. purchased a new position in Direxion Daily GOOGL Bull 2X Shares in the 1st quarter worth approximately $15,133,000. IMC Chicago LLC bought a new position in Direxion Daily GOOGL Bull 2X Shares in the 1st quarter valued at approximately $437,000. Clay Northam Wealth Management LLC bought a new position in Direxion Daily GOOGL Bull 2X Shares in the 4th quarter valued at approximately $206,000. Finally, Barclays PLC purchased a new stake in Direxion Daily GOOGL Bull 2X Shares during the 4th quarter valued at $630,000.

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.