Direxion Daily GOOGL Bull 2X ETF (NASDAQ:GGLL) Stock Falls 4.6% – What’s Next?

Direxion Daily GOOGL Bull 2X ETF (NASDAQ:GGLL)’s stock price dropped 4.6% on Wednesday. The company traded as low as $91.68 and last traded at $92.0490. Approximately 591,072 shares were traded during mid-day trading, a decline of 59% from the average daily volume of 1,435,358 shares. The stock had previously closed at $96.52.

Direxion Daily GOOGL Bull 2X ETF Stock Down 6.4%

The firm has a 50-day moving average of $99.89 and a two-hundred day moving average of $110.73. The company has a market capitalization of $975.40 million, a PE ratio of 17.77 and a beta of 2.23.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of GGLL. Himension Capital Singapore PTE. LTD. purchased a new stake in Direxion Daily GOOGL Bull 2X ETF during the 1st quarter worth approximately $15,133,000. Optiver Holding B.V. lifted its position in shares of Direxion Daily GOOGL Bull 2X ETF by 222.2% in 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. SBI Securities Co. Ltd. lifted its position in shares of Direxion Daily GOOGL Bull 2X ETF by 121.2% in the third quarter. SBI Securities Co. Ltd. now owns 15,392 shares of the company’s stock valued at $1,530,000 after acquiring an additional 8,435 shares in the last quarter. Bullseye Investment Management LLC purchased a new position in shares of Direxion Daily GOOGL Bull 2X ETF in the second quarter valued at approximately $664,000. Finally, IMC Chicago LLC acquired a new stake in shares of Direxion Daily GOOGL Bull 2X ETF in the first quarter worth approximately $437,000.

About Direxion Daily GOOGL Bull 2X ETF

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.