Direxion Daily AVGO Bull 2X Shares (NASDAQ:AVL) Trading Up 6.3% – What’s Next?

Direxion Daily AVGO Bull 2X Shares (NASDAQ:AVL) shares shot up 6.3% during mid-day trading on Wednesday . The stock traded as high as $72.62 and last traded at $71.87. 410,339 shares traded hands during trading, a decline of 12% from the average session volume of 467,132 shares. The stock had previously closed at $67.61.

Direxion Daily AVGO Bull 2X Shares Price Performance

The firm has a market cap of $155.96 million, a PE ratio of -3,593.50 and a beta of 9.35. The company’s 50 day moving average price is $57.73 and its 200 day moving average price is $46.28.

Direxion Daily AVGO Bull 2X Shares Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 23rd were paid a $0.1415 dividend. This represents a $0.57 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Tuesday, September 23rd. Direxion Daily AVGO Bull 2X Shares’s dividend payout ratio (DPR) is presently -2,700.00%.

Institutional Investors Weigh In On Direxion Daily AVGO Bull 2X Shares

A number of hedge funds have recently bought and sold shares of the stock. SBI Securities Co. Ltd. boosted its stake in shares of Direxion Daily AVGO Bull 2X Shares by 1,843.9% in the 2nd quarter. SBI Securities Co. Ltd. now owns 797 shares of the company’s stock valued at $31,000 after buying an additional 756 shares during the period. Group One Trading LLC lifted its stake in Direxion Daily AVGO Bull 2X Shares by 374.4% in the third quarter. Group One Trading LLC now owns 593 shares of the company’s stock worth $31,000 after acquiring an additional 468 shares during the last quarter. Cresset Asset Management LLC purchased a new position in Direxion Daily AVGO Bull 2X Shares in the second quarter worth approximately $236,000. Finally, Client First Investment Management LLC acquired a new position in Direxion Daily AVGO Bull 2X Shares during the 2nd quarter worth approximately $879,000. Institutional investors and hedge funds own 2.95% of the company’s stock.

About Direxion Daily AVGO Bull 2X Shares

The Direxion Daily AVGO Bull 2X Shares (AVL) is an exchange-traded fund that mostly invests in information technology equity. The fund provides 2x leveraged exposure, less fees and expenses, to the daily price movement for shares of Broadcom Inc stock. AVL was launched on Oct 10, 2024 and is issued by Direxion.