Direxion Daily GOOGL Bull 2X Shares (NASDAQ:GGLL) Short Interest Up 56.3% in October

Direxion Daily GOOGL Bull 2X Shares (NASDAQ:GGLL) saw a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 374,000 shares, an increase of 56.3% from the October 15th total of 239,300 shares. Based on an average trading volume of 647,000 shares, the days-to-cover ratio is presently 0.6 days.

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

A number of institutional investors have recently added to or reduced their stakes in GGLL. Flow Traders U.S. LLC purchased a new stake in shares of Direxion Daily GOOGL Bull 2X Shares in the third quarter worth about $763,000. Client First Investment Management LLC purchased a new position in Direxion Daily GOOGL Bull 2X Shares in the second quarter valued at about $881,000. Hollencrest Capital Management purchased a new position in Direxion Daily GOOGL Bull 2X Shares in the second quarter valued at about $236,000. Finally, Virtu Financial LLC purchased a new position in Direxion Daily GOOGL Bull 2X Shares in the first quarter valued at about $650,000.

Direxion Daily GOOGL Bull 2X Shares Stock Performance

Direxion Daily GOOGL Bull 2X Shares stock traded down $1.59 during trading on Thursday, hitting $40.97. The company’s stock had a trading volume of 504,533 shares, compared to its average volume of 352,712. The stock has a market capitalization of $172.07 million, a price-to-earnings ratio of 39.69 and a beta of -2.73. The stock’s fifty day moving average is $36.77 and its 200 day moving average is $40.58. Direxion Daily GOOGL Bull 2X Shares has a 1-year low of $28.16 and a 1-year high of $52.12.

Direxion Daily GOOGL Bull 2X Shares Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 24th were given a dividend of $0.2376 per share. This represents a $0.95 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date was Tuesday, September 24th.

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.