Direxion Daily AVGO Bull 2X Shares (NASDAQ:AVL) Trading Up 14.2% – Time to Buy?

Shares of Direxion Daily AVGO Bull 2X Shares (NASDAQ:AVL) rose 14.2% during trading on Friday . The stock traded as high as $40.01 and last traded at $39.57. Approximately 851,436 shares were traded during trading, an increase of 18% from the average daily volume of 718,827 shares. The stock had previously closed at $34.65.

Direxion Daily AVGO Bull 2X Shares Stock Up 14.2%

The stock has a fifty day moving average of $46.58 and a 200-day moving average of $51.21. The firm has a market capitalization of $199.83 million, a P/E ratio of -1,978.50 and a beta of 9.35.

Direxion Daily AVGO Bull 2X Shares Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 23rd were paid a $0.1584 dividend. The ex-dividend date of this dividend was Tuesday, December 23rd. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.6%. Direxion Daily AVGO Bull 2X Shares’s payout ratio is currently -64,000.00%.

Institutional Trading of Direxion Daily AVGO Bull 2X Shares

Several hedge funds have recently modified their holdings of AVL. Group One Trading LLC raised its position in Direxion Daily AVGO Bull 2X Shares by 374.4% in the 3rd quarter. Group One Trading LLC now owns 593 shares of the company’s stock worth $31,000 after purchasing an additional 468 shares during the last quarter. SBI Securities Co. Ltd. increased its stake in shares of Direxion Daily AVGO Bull 2X Shares by 1,843.9% in the 2nd quarter. SBI Securities Co. Ltd. now owns 797 shares of the company’s stock valued at $31,000 after buying an additional 756 shares during the period. FWG Investments LLC. acquired a new stake in shares of Direxion Daily AVGO Bull 2X Shares in the 4th quarter valued at $201,000. Cresset Asset Management LLC bought a new stake in shares of Direxion Daily AVGO Bull 2X Shares during the second quarter worth $236,000. Finally, IMC Chicago LLC acquired a new position in shares of Direxion Daily AVGO Bull 2X Shares during the fourth quarter valued at $530,000. 2.95% of the stock is owned by institutional investors.

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.