Direxion Daily AMZN Bull 2X Shares (NASDAQ:AMZU) Shares Cross Above 50 Day Moving Average – Should You Sell?

Direxion Daily AMZN Bull 2X Shares (NASDAQ:AMZU) shares crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $34.43 and traded as high as $37.44. Direxion Daily AMZN Bull 2X Shares shares last traded at $35.69, with a volume of 1,651,836 shares trading hands.

Direxion Daily AMZN Bull 2X Shares Stock Performance

The business’s 50 day moving average price is $34.52 and its 200-day moving average price is $33.66. The firm has a market capitalization of $173.59 million, a PE ratio of 120.98 and a beta of -2.52.

Direxion Daily AMZN Bull 2X Shares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 24th were given a $0.3042 dividend. This is a positive change from Direxion Daily AMZN Bull 2X Shares’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Tuesday, September 24th. This represents a $1.22 dividend on an annualized basis and a yield of 3.46%.

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

Several institutional investors and hedge funds have recently modified their holdings of the company. Hollencrest Capital Management acquired a new position in Direxion Daily AMZN Bull 2X Shares in the 2nd quarter valued at about $37,000. Client First Investment Management LLC acquired a new position in shares of Direxion Daily AMZN Bull 2X Shares in the second quarter valued at approximately $297,000. Regal Investment Advisors LLC acquired a new position in shares of Direxion Daily AMZN Bull 2X Shares in the second quarter valued at approximately $273,000. Traynor Capital Management Inc. increased its stake in Direxion Daily AMZN Bull 2X Shares by 56.4% during the 3rd quarter. Traynor Capital Management Inc. now owns 21,500 shares of the company’s stock worth $697,000 after buying an additional 7,750 shares during the period. Finally, Flow Traders U.S. LLC acquired a new stake in Direxion Daily AMZN Bull 2X Shares during the 3rd quarter worth approximately $446,000.

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.