Short Interest in Direxion Daily GOOGL Bull 2X Shares (NASDAQ:GGLL) Drops By 50.3%

Direxion Daily GOOGL Bull 2X Shares (NASDAQ:GGLL) was the target of a significant decrease in short interest during the month of March. As of March 15th, there was short interest totalling 854,200 shares, a decrease of 50.3% from the February 28th total of 1,720,000 shares. Currently, 26.3% of the shares of the company are sold short. Based on an average daily volume of 1,060,700 shares, the days-to-cover ratio is presently 0.8 days.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of GGLL. Toth Financial Advisory Corp boosted its holdings in shares of Direxion Daily GOOGL Bull 2X Shares by 107.1% in the fourth quarter. Toth Financial Advisory Corp now owns 1,054 shares of the company’s stock worth $48,000 after acquiring an additional 545 shares during the period. PayPay Securities Corp purchased a new stake in Direxion Daily GOOGL Bull 2X Shares during the 4th quarter worth about $31,000. Tower Research Capital LLC TRC bought a new position in Direxion Daily GOOGL Bull 2X Shares in the 4th quarter worth about $66,000. Hollencrest Capital Management purchased a new position in Direxion Daily GOOGL Bull 2X Shares during the 4th quarter valued at about $92,000. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Direxion Daily GOOGL Bull 2X Shares during the fourth quarter valued at about $201,000.

Direxion Daily GOOGL Bull 2X Shares Price Performance

NASDAQ:GGLL traded down $3.09 on Friday, reaching $28.62. 2,056,708 shares of the company’s stock were exchanged, compared to its average volume of 644,728. The stock has a fifty day simple moving average of $40.58 and a 200-day simple moving average of $40.51. Direxion Daily GOOGL Bull 2X Shares has a 52 week low of $28.36 and a 52 week high of $53.72. The firm has a market cap of $93.02 million, a price-to-earnings ratio of 24.98 and a beta of -2.73.

Direxion Daily GOOGL Bull 2X Shares Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 25th will be paid a $0.2172 dividend. The ex-dividend date of this dividend is Tuesday, March 25th. This represents a $0.87 dividend on an annualized basis and a yield of 3.04%.

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.