Direxion Daily AAPL Bull 2X ETF (NASDAQ:AAPU) Share Price Crosses Below 50 Day Moving Average – Time to Sell?

Shares of Direxion Daily AAPL Bull 2X ETF (NASDAQ:AAPU) passed below its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $44.61 and traded as low as $41.81. Direxion Daily AAPL Bull 2X ETF shares last traded at $43.36, with a volume of 1,321,651 shares trading hands.

Direxion Daily AAPL Bull 2X ETF Stock Performance

The firm’s 50 day simple moving average is $44.61 and its 200-day simple moving average is $37.36. The company has a market capitalization of $127.91 million, a price-to-earnings ratio of 25.83 and a beta of 1.73.

Hedge Funds Weigh In On Direxion Daily AAPL Bull 2X ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. StoneX Group Inc. acquired a new stake in shares of Direxion Daily AAPL Bull 2X ETF in the 3rd quarter valued at $999,000. SBI Securities Co. Ltd. boosted its holdings in Direxion Daily AAPL Bull 2X ETF by 9.4% in the third quarter. SBI Securities Co. Ltd. now owns 3,176 shares of the company’s stock worth $140,000 after purchasing an additional 272 shares in the last quarter. Finally, Safeguard Investment Advisory Group LLC bought a new stake in Direxion Daily AAPL Bull 2X ETF in the second quarter worth $237,000.

Direxion Daily AAPL Bull 2X ETF Company Profile

The Direxion Daily AAPL Bull 1.5X Shares (AAPU) is an exchange-traded fund that is based on the Apple Inc index. The fund provides 1.5x leveraged exposure, less fees and expenses, to the daily price movement for shares of Apple stock. AAPU was launched on Aug 9, 2022 and is managed by Direxion.