Direxion Daily AMZN Bull 2X Shares (NASDAQ:AMZU) Stock Price Down 4.7% – Time to Sell?

Direxion Daily AMZN Bull 2X Shares (NASDAQ:AMZU)’s share price dropped 4.7% on Monday . The stock traded as low as $26.23 and last traded at $26.80. Approximately 3,715,966 shares traded hands during mid-day trading, a decline of 0% from the average daily volume of 3,719,407 shares. The stock had previously closed at $28.11.

Direxion Daily AMZN Bull 2X Shares Stock Performance

The company has a market capitalization of $251.92 million, a price-to-earnings ratio of 32.75 and a beta of 1.95. The firm has a fifty day moving average price of $33.89 and a 200-day moving average price of $36.10.

Direxion Daily AMZN Bull 2X Shares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 17th. Shareholders of record on Wednesday, December 10th were given a dividend of $1.2027 per share. The ex-dividend date of this dividend was Wednesday, December 10th. This represents a $4.81 dividend on an annualized basis and a yield of 18.0%. This is a boost from Direxion Daily AMZN Bull 2X Shares’s previous quarterly dividend of $0.22.

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

A number of hedge funds have recently added to or reduced their stakes in AMZU. FNY Investment Advisers LLC purchased a new position in shares of Direxion Daily AMZN Bull 2X Shares during the 4th quarter valued at about $25,000. PayPay Securities Corp grew its position in Direxion Daily AMZN Bull 2X Shares by 257.5% during the third quarter. PayPay Securities Corp now owns 976 shares of the company’s stock valued at $34,000 after acquiring an additional 703 shares during the last quarter. Safe Harbor Fiduciary LLC bought a new stake in shares of Direxion Daily AMZN Bull 2X Shares in the 4th quarter worth approximately $41,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Direxion Daily AMZN Bull 2X Shares in the 4th quarter worth approximately $47,000. Finally, Parallel Advisors LLC boosted its stake in shares of Direxion Daily AMZN Bull 2X Shares by 507.7% in the 3rd quarter. Parallel Advisors LLC now owns 1,975 shares of the company’s stock valued at $69,000 after purchasing an additional 1,650 shares in the last quarter.

About Direxion Daily AMZN Bull 2X Shares

The Direxion Daily AMZN Bull 1.5X Shares ETF (AMZU) is an exchange-traded fund that is based on the Amazon.com, Inc index. The fund provides 1.5x leveraged exposure, less fees and expenses, to the daily price movement for shares of Amazon stock. AMZU was launched on Sep 7, 2022 and is managed by Direxion.