Direxion Daily AVGO Bull 2X Shares (NASDAQ:AVL) Trading 1.5% Higher – Here’s What Happened

Direxion Daily AVGO Bull 2X Shares (NASDAQ:AVL) shot up 1.5% on Thursday . The stock traded as high as $44.53 and last traded at $42.82. 560,426 shares traded hands during trading, a decline of 9% from the average session volume of 618,080 shares. The stock had previously closed at $42.17.

Direxion Daily AVGO Bull 2X Shares Trading Up 5.0%

The firm’s fifty day moving average price is $53.12 and its 200-day moving average price is $51.35. The firm has a market cap of $204.61 million, a price-to-earnings ratio of -2,248.50 and a beta of 9.35.

Direxion Daily AVGO Bull 2X Shares Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 23rd were issued a dividend of $0.1584 per share. The ex-dividend date of this dividend was Tuesday, December 23rd. This represents a $0.63 annualized dividend and a dividend yield of 1.4%. Direxion Daily AVGO Bull 2X Shares’s dividend payout ratio (DPR) is presently -64,000.00%.

Institutional Investors Weigh In On Direxion Daily AVGO Bull 2X Shares

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. grew its position in shares of Direxion Daily AVGO Bull 2X Shares by 1,843.9% during the second quarter. SBI Securities Co. Ltd. now owns 797 shares of the company’s stock worth $31,000 after acquiring an additional 756 shares during the last quarter. Group One Trading LLC raised its holdings in shares of Direxion Daily AVGO Bull 2X Shares by 374.4% in the third quarter. Group One Trading LLC now owns 593 shares of the company’s stock valued at $31,000 after buying an additional 468 shares during the last quarter. Cresset Asset Management LLC acquired a new stake in Direxion Daily AVGO Bull 2X Shares during the 2nd quarter worth approximately $236,000. Finally, Client First Investment Management LLC grew its stake in shares of Direxion Daily AVGO Bull 2X Shares by 78.6% in the 3rd quarter. Client First Investment Management LLC now owns 40,375 shares of the company’s stock valued at $2,113,000 after purchasing an additional 17,772 shares during the last quarter. Hedge funds and other institutional investors own 2.95% of the company’s stock.

About Direxion Daily AVGO Bull 2X Shares

The Direxion Daily AVGO Bull 2X Shares (AVL) is an exchange-traded fund that mostly invests in information technology equity. The fund provides 2x leveraged exposure, less fees and expenses, to the daily price movement for shares of Broadcom Inc stock. AVL was launched on Oct 10, 2024 and is issued by Direxion.