Direxion Daily GOOGL Bull 2X Shares (NASDAQ:GGLL) Trading Down 7.8% – Time to Sell?

Direxion Daily GOOGL Bull 2X Shares (NASDAQ:GGLL)’s stock price traded down 7.8% on Tuesday . The stock traded as low as $80.73 and last traded at $80.73. 1,048,210 shares were traded during trading, a decline of 34% from the average session volume of 1,591,540 shares. The stock had previously closed at $87.60.

Direxion Daily GOOGL Bull 2X Shares Stock Performance

The company has a 50-day moving average of $97.92 and a 200-day moving average of $88.24. The firm has a market capitalization of $837.01 million, a price-to-earnings ratio of 17.77 and a beta of 1.33.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GGLL. StoneX Group Inc. bought a new stake in shares of Direxion Daily GOOGL Bull 2X Shares during the second quarter worth $715,000. Group One Trading LLC lifted its position in Direxion Daily GOOGL Bull 2X Shares by 22.6% in the 2nd 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 in the last quarter. Oriental Harbor Investment Master Fund bought a new stake in Direxion Daily GOOGL Bull 2X Shares in the 3rd quarter valued at $9,536,000. Hollencrest Capital Management boosted its stake in Direxion Daily GOOGL Bull 2X Shares by 1,650.0% in the 3rd quarter. Hollencrest Capital Management now owns 525 shares of the company’s stock worth $33,000 after purchasing an additional 495 shares during the period. Finally, Citigroup Inc. acquired a new position in Direxion Daily GOOGL Bull 2X Shares in the 3rd quarter worth $15,041,000.

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.