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 drop in short interest in March. As of March 15th, there was short interest totalling 854,200 shares, a drop of 50.3% from the February 28th total of 1,720,000 shares. Approximately 26.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,060,700 shares, the days-to-cover ratio is presently 0.8 days.

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

A number of institutional investors and hedge funds have recently made changes to their positions in GGLL. Jane Street Group LLC purchased a new position in shares of Direxion Daily GOOGL Bull 2X Shares in the 4th quarter worth approximately $306,000. Tower Research Capital LLC TRC bought a new stake in Direxion Daily GOOGL Bull 2X Shares in the fourth quarter worth $66,000. Hollencrest Capital Management purchased a new position in Direxion Daily GOOGL Bull 2X Shares during the fourth quarter worth $92,000. Chung Wu Investment Group LLC bought a new position in Direxion Daily GOOGL Bull 2X Shares during the fourth quarter valued at $242,000. Finally, SBI Securities Co. Ltd. bought a new position in Direxion Daily GOOGL Bull 2X Shares during the fourth quarter valued at $201,000.

Direxion Daily GOOGL Bull 2X Shares Stock Performance

Shares of GGLL traded down $3.09 during mid-day trading on Friday, hitting $28.62. 2,056,708 shares of the stock were exchanged, compared to its average volume of 647,095. The company has a market cap of $93.02 million, a PE ratio of 24.98 and a beta of -2.73. Direxion Daily GOOGL Bull 2X Shares has a 52-week low of $28.35 and a 52-week high of $53.72. The firm has a 50-day moving average of $40.18 and a two-hundred day moving average of $40.50.

Direxion Daily GOOGL Bull 2X Shares Cuts Dividend

The firm 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 dividend of $0.2172 per share. This represents a $0.87 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date is Tuesday, March 25th.

About Direxion Daily GOOGL Bull 2X Shares

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.