Direxion Daily AVGO Bear 1X ETF (NASDAQ:AVS) Share Price Crosses Below Two Hundred Day Moving Average – Here’s Why

Shares of Direxion Daily AVGO Bear 1X ETF (NASDAQ:AVS) crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $8.39 and traded as low as $7.83. Direxion Daily AVGO Bear 1X ETF shares last traded at $8.11, with a volume of 9,754,869 shares traded.

Direxion Daily AVGO Bear 1X ETF Trading Down 4.1%

The firm has a 50-day moving average price of $8.37 and a two-hundred day moving average price of $8.39.

Direxion Daily AVGO Bear 1X ETF Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 22nd were paid a $0.0430 dividend. This represents a $0.17 annualized dividend and a yield of 2.1%. The ex-dividend date was Tuesday, September 22nd. This is a positive change from Direxion Daily AVGO Bear 1X ETF’s previous quarterly dividend of $0.0358.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in AVS. Optiver Holding B.V. lifted its position in Direxion Daily AVGO Bear 1X ETF by 123.0% during the 1st quarter. Optiver Holding B.V. now owns 4,668 shares of the company’s stock worth $48,000 after buying an additional 2,575 shares in the last quarter. Hamilton Wealth LLC bought a new position in shares of Direxion Daily AVGO Bear 1X ETF in the 1st quarter valued at about $205,000. AFG Fiduciary Services Limited Partnership grew its holdings in shares of Direxion Daily AVGO Bear 1X ETF by 85.6% in the 2nd quarter. AFG Fiduciary Services Limited Partnership now owns 20,362 shares of the company’s stock valued at $168,000 after acquiring an additional 9,391 shares in the last quarter. Finally, StoneX Group Inc. bought a new position in shares of Direxion Daily AVGO Bear 1X ETF in the 3rd quarter valued at about $158,000.

About Direxion Daily AVGO Bear 1X ETF

The Direxion Daily AVGO Bear 1X Shares (AVS) is an exchange-traded fund that mostly invests in information technology equity. The fund provides inverse (-1x) exposure, less fees and expenses, to the daily price movement for shares of Broadcom Inc. stock. AVS was launched on Oct 10, 2024 and is issued by Direxion.