Direxion Daily GOOGL Bull 2X ETF (NASDAQ:GGLL) Shares Up 5.3% – Should You Buy?

Direxion Daily GOOGL Bull 2X ETF (NASDAQ:GGLL) was up 5.3% during mid-day trading on Thursday. The stock traded as high as $73.20 and last traded at $73.35. Approximately 1,293,597 shares traded hands during mid-day trading, a decline of 17% from the average daily volume of 1,560,443 shares. The stock had previously closed at $69.64.

Direxion Daily GOOGL Bull 2X ETF Stock Performance

The company has a market capitalization of $1.11 billion, a PE ratio of 17.77 and a beta of 2.36. The stock’s 50 day moving average is $91.63 and its 200 day moving average is $103.57.

Institutional Investors Weigh In On Direxion Daily GOOGL Bull 2X ETF

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Himension Capital Singapore PTE. LTD. bought a new position in shares of Direxion Daily GOOGL Bull 2X ETF in the first quarter worth $15,133,000. Optiver Holding B.V. lifted its holdings in Direxion Daily GOOGL Bull 2X ETF by 222.2% during the 1st quarter. Optiver Holding B.V. now owns 59,633 shares of the company’s stock worth $4,654,000 after purchasing an additional 41,127 shares in the last quarter. StoneX Group Inc. bought a new position in Direxion Daily GOOGL Bull 2X ETF in the 3rd quarter worth about $1,210,000. SBI Securities Co. Ltd. boosted its stake in Direxion Daily GOOGL Bull 2X ETF by 121.2% in the 3rd quarter. SBI Securities Co. Ltd. now owns 15,392 shares of the company’s stock worth $1,530,000 after purchasing an additional 8,435 shares during the period. Finally, Bullseye Investment Management LLC bought a new position in Direxion Daily GOOGL Bull 2X ETF in the 2nd quarter worth about $664,000.

Direxion Daily GOOGL Bull 2X ETF Company Profile

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.