Direxion Daily AVGO Bear 1X Shares (NASDAQ:AVS) Trading Down 4.4% – Here’s Why

Shares of Direxion Daily AVGO Bear 1X Shares (NASDAQ:AVS) fell 4.4% during trading on Thursday . The stock traded as low as $7.28 and last traded at $7.31. Approximately 13,101,956 shares changed hands during mid-day trading, an increase of 281% from the average session volume of 3,436,782 shares. The stock had previously closed at $7.65.

Direxion Daily AVGO Bear 1X Shares Price Performance

The company’s 50 day simple moving average is $7.57 and its 200 day simple moving average is $8.93.

Direxion Daily AVGO Bear 1X Shares Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 24th were issued a $0.0593 dividend. The ex-dividend date was Tuesday, March 24th. This represents a $0.24 dividend on an annualized basis and a yield of 3.2%.

Institutional Investors Weigh In On Direxion Daily AVGO Bear 1X Shares

Several large investors have recently bought and sold shares of the stock. Advisory Services Network LLC acquired a new stake in Direxion Daily AVGO Bear 1X Shares in the 2nd quarter valued at about $1,019,000. Optiver Holding B.V. grew its position in shares of Direxion Daily AVGO Bear 1X Shares by 3,790.3% during the third quarter. Optiver Holding B.V. now owns 35,441 shares of the company’s stock worth $375,000 after buying an additional 34,530 shares in the last quarter. AFG Fiduciary Services Limited Partnership acquired a new position in shares of Direxion Daily AVGO Bear 1X Shares during the fourth quarter worth about $128,000. Genesis Financial Group LLC purchased a new stake in shares of Direxion Daily AVGO Bear 1X Shares during the fourth quarter worth approximately $1,868,000. Finally, MWA Asset Management purchased a new stake in shares of Direxion Daily AVGO Bear 1X Shares during the fourth quarter worth approximately $118,000.

Direxion Daily AVGO Bear 1X Shares Company Profile

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.