Direxion Daily GOOGL Bull 2X Shares (NASDAQ:GGLL) Short Interest Down 50.3% in March

Direxion Daily GOOGL Bull 2X Shares (NASDAQ:GGLL) was the target of a large decline in short interest in March. As of March 15th, there was short interest totalling 854,200 shares, a decline of 50.3% from the February 28th total of 1,720,000 shares. Currently, 26.3% of the company’s stock are short sold. Based on an average trading volume of 1,060,700 shares, the days-to-cover ratio is currently 0.8 days.

Direxion Daily GOOGL Bull 2X Shares Trading Down 9.7 %

Shares of GGLL stock traded down $3.09 during midday trading on Friday, reaching $28.62. 2,056,708 shares of the stock were exchanged, compared to its average volume of 647,095. Direxion Daily GOOGL Bull 2X Shares has a 1 year low of $28.35 and a 1 year high of $53.72. The firm has a market cap of $93.02 million, a PE ratio of 24.98 and a beta of -2.73. The company’s 50 day moving average is $40.18 and its two-hundred day moving average is $40.50.

Direxion Daily GOOGL Bull 2X Shares Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 25th will be paid a $0.2172 dividend. The ex-dividend date is Tuesday, March 25th. This represents a $0.87 annualized dividend and a yield of 3.04%.

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

A number of institutional investors have recently added to or reduced their stakes in GGLL. PayPay Securities Corp purchased a new stake in shares of Direxion Daily GOOGL Bull 2X Shares in the 4th quarter worth about $31,000. Toth Financial Advisory Corp grew its holdings in Direxion Daily GOOGL Bull 2X Shares by 107.1% in the fourth quarter. Toth Financial Advisory Corp now owns 1,054 shares of the company’s stock worth $48,000 after purchasing an additional 545 shares during the period. Tower Research Capital LLC TRC purchased a new stake in Direxion Daily GOOGL Bull 2X Shares in the fourth quarter worth about $66,000. Hollencrest Capital Management bought a new position in shares of Direxion Daily GOOGL Bull 2X Shares during the fourth quarter valued at approximately $92,000. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Direxion Daily GOOGL Bull 2X Shares during the fourth quarter valued at approximately $201,000.

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.