Direxion Daily GOOGL Bull 2X Shares (NASDAQ:GGLL) Trading Down 6% – Here’s Why

Direxion Daily GOOGL Bull 2X Shares (NASDAQ:GGLL) shares were down 6% during mid-day trading on Tuesday . The company traded as low as $103.42 and last traded at $103.71. 947,816 shares changed hands during trading, a decline of 37% from the average session volume of 1,507,756 shares. The stock had previously closed at $110.37.

Direxion Daily GOOGL Bull 2X Shares Stock Down 6.6%

The stock has a market capitalization of $981.70 million, a P/E ratio of 17.77 and a beta of 2.25. The firm has a 50-day moving average of $112.56 and a 200 day moving average of $108.27.

Direxion Daily GOOGL Bull 2X Shares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd were paid a $0.5806 dividend. The ex-dividend date was Tuesday, June 23rd. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.3%.

Institutional Trading of Direxion Daily GOOGL Bull 2X Shares

Several institutional investors have recently made changes to their positions in GGLL. Optiver Holding B.V. increased its stake in Direxion Daily GOOGL Bull 2X Shares by 222.2% in the first quarter. Optiver Holding B.V. now owns 59,633 shares of the company’s stock valued at $4,654,000 after acquiring an additional 41,127 shares during the period. Himension Capital Singapore PTE. LTD. acquired a new stake in Direxion Daily GOOGL Bull 2X Shares during the first quarter valued at approximately $15,133,000. IMC Chicago LLC acquired a new stake in Direxion Daily GOOGL Bull 2X Shares during the first quarter valued at approximately $437,000. Clay Northam Wealth Management LLC bought a new stake in shares of Direxion Daily GOOGL Bull 2X Shares in the 4th quarter valued at approximately $206,000. Finally, Barclays PLC acquired a new position in shares of Direxion Daily GOOGL Bull 2X Shares in the 4th quarter worth approximately $630,000.

Direxion Daily GOOGL Bull 2X Shares 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.