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

Direxion Daily GOOGL Bull 2X Shares (NASDAQ:GGLL) saw a large increase in short interest in September. As of September 15th, there was short interest totalling 399,800 shares, an increase of 397.3% from the August 31st total of 80,400 shares. Based on an average daily trading volume, of 402,800 shares, the days-to-cover ratio is currently 1.0 days.

Institutional Trading of Direxion Daily GOOGL Bull 2X Shares

Hedge funds and other institutional investors have recently modified their holdings of the business. Hollencrest Capital Management acquired a new stake in shares of Direxion Daily GOOGL Bull 2X Shares during the 2nd quarter worth about $236,000. TRUE Private Wealth Advisors boosted its holdings in Direxion Daily GOOGL Bull 2X Shares by 3.4% during the 1st quarter. TRUE Private Wealth Advisors now owns 14,309 shares of the company’s stock valued at $494,000 after acquiring an additional 469 shares during the period. Client First Investment Management LLC purchased a new position in Direxion Daily GOOGL Bull 2X Shares during the 2nd quarter valued at about $881,000. Finally, Virtu Financial LLC purchased a new position in Direxion Daily GOOGL Bull 2X Shares during the 1st quarter valued at about $650,000.

Direxion Daily GOOGL Bull 2X Shares Price Performance

Shares of NASDAQ:GGLL traded down $0.14 during midday trading on Wednesday, reaching $35.60. 336,422 shares of the company’s stock were exchanged, compared to its average volume of 269,083. The firm’s 50 day simple moving average is $37.30 and its two-hundred day simple moving average is $39.87. The stock has a market cap of $93.63 million, a price-to-earnings ratio of 39.69 and a beta of -2.73. Direxion Daily GOOGL Bull 2X Shares has a fifty-two week low of $25.87 and a fifty-two week high of $52.12.

Direxion Daily GOOGL Bull 2X Shares Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 24th will be given a dividend of $0.2376 per share. This represents a $0.95 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date is Tuesday, September 24th.

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.