Direxion Daily GOOGL Bull 2X Shares (NASDAQ:GGLL) Sees Significant Decrease in Short Interest

Direxion Daily GOOGL Bull 2X Shares (NASDAQ:GGLL) was the recipient of a large drop in short interest during the month of November. As of November 15th, there was short interest totalling 338,500 shares, a drop of 9.5% from the October 31st total of 374,000 shares. Based on an average daily trading volume, of 679,300 shares, the days-to-cover ratio is currently 0.5 days.

Hedge Funds Weigh In On Direxion Daily GOOGL Bull 2X Shares

Several large investors have recently added to or reduced their stakes in the company. Hollencrest Capital Management acquired a new stake in shares of Direxion Daily GOOGL Bull 2X Shares during the 2nd quarter worth approximately $236,000. Client First Investment Management LLC bought a new position in Direxion Daily GOOGL Bull 2X Shares in the second quarter worth $881,000. Finally, Flow Traders U.S. LLC acquired a new stake in Direxion Daily GOOGL Bull 2X Shares during the third quarter worth $763,000.

Direxion Daily GOOGL Bull 2X Shares Price Performance

Shares of Direxion Daily GOOGL Bull 2X Shares stock traded down $0.10 during midday trading on Tuesday, hitting $38.63. The company had a trading volume of 425,040 shares, compared to its average volume of 369,914. The stock has a market cap of $162.25 million, a PE ratio of 39.69 and a beta of -2.73. Direxion Daily GOOGL Bull 2X Shares has a 1-year low of $28.16 and a 1-year high of $52.12. The business’s 50 day simple moving average is $38.12 and its two-hundred day simple moving average is $40.33.

Direxion Daily GOOGL Bull 2X Shares Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 24th were paid a dividend of $0.2376 per share. The ex-dividend date of this dividend was Tuesday, September 24th. This represents a $0.95 annualized dividend and a yield of 2.46%.

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.