Direxion Daily AAPL Bull 2X Shares (NASDAQ:AAPU) Trading Down 1.6% – Here’s Why

Direxion Daily AAPL Bull 2X Shares (NASDAQ:AAPU)’s share price dropped 1.6% during mid-day trading on Tuesday . The stock traded as low as $40.37 and last traded at $41.15. Approximately 1,089,670 shares traded hands during mid-day trading, a decline of 51% from the average daily volume of 2,217,646 shares. The stock had previously closed at $41.84.

Direxion Daily AAPL Bull 2X Shares Trading Down 1.6%

The business’s 50 day moving average is $38.38 and its 200 day moving average is $33.28. The stock has a market capitalization of $173.65 million, a PE ratio of 25.83 and a beta of 1.77.

Direxion Daily AAPL Bull 2X Shares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd were paid a $0.218 dividend. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $0.87 annualized dividend and a yield of 2.1%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Raymond James Financial Inc. bought a new position in Direxion Daily AAPL Bull 2X Shares in the 2nd quarter worth about $50,000. Parallel Advisors LLC increased its position in shares of Direxion Daily AAPL Bull 2X Shares by 107.3% during the third quarter. Parallel Advisors LLC now owns 5,080 shares of the company’s stock worth $164,000 after acquiring an additional 2,630 shares during the period. Safe Harbor Fiduciary LLC purchased a new position in shares of Direxion Daily AAPL Bull 2X Shares during the fourth quarter worth approximately $141,000. Group One Trading LLC raised its stake in shares of Direxion Daily AAPL Bull 2X Shares by 73.5% during the third quarter. Group One Trading LLC now owns 14,985 shares of the company’s stock valued at $484,000 after acquiring an additional 6,348 shares in the last quarter. Finally, Safeguard Investment Advisory Group LLC bought a new stake in shares of Direxion Daily AAPL Bull 2X Shares during the third quarter valued at approximately $219,000.

About Direxion Daily AAPL Bull 2X Shares

The Direxion Daily AAPL Bull 1.5X Shares (AAPU) is an exchange-traded fund that is based on the Apple Inc index. The fund provides 1.5x leveraged exposure, less fees and expenses, to the daily price movement for shares of Apple stock. AAPU was launched on Aug 9, 2022 and is managed by Direxion.