Direxion Daily GOOGL Bull 2X Shares Sees Significant Growth in Short Interest

Direxion Daily GOOGL Bull 2X Shares (NASDAQ:GGLL) experienced a notable rise in short interest in December. As of December 15th, the total short interest reached 641,600 shares, marking an increase of 116.1% from the previous total of 296,900 shares on November 30th. With an average daily volume of 848,300 shares, the current short-interest ratio stands at 0.8 days.

Institutional Inflows and Outflows

Recent activity among hedge funds indicates changes in their holdings of GGLL. Flow Traders U.S. LLC initiated a new stake in Direxion Daily GOOGL Bull 2X Shares during the third quarter, investing around $763,000. Similarly, Client First Investment Management LLC acquired a new position in the second quarter worth $881,000, while Hollencrest Capital Management purchased a new stake in the same quarter valued at $236,000.

Direxion Daily GOOGL Bull 2X Shares Stock Performance

On a recent trading day, shares of Direxion Daily GOOGL Bull 2X traded down by $1.27, bringing the price to $47.64. The trading volume reached 581,523 shares, surpassing the average volume of 420,590. The market capitalization of the stock is currently $200.09 million, with a price-to-earnings ratio of 39.69 and a beta value of -2.73. Over the past year, the stock has fluctuated, with a 12-month low of $28.19 and a high of $52.44. The fifty-day simple moving average stands at $41.44, while the two-hundred-day simple moving average is $40.55.

Dividend Update

Recently, Direxion Daily GOOGL Bull 2X Shares announced a dividend, scheduled to be paid on December 31st. Shareholders who are on record by December 23rd will receive a dividend of $0.3403 per share. It's important to note that the ex-dividend date for this distribution is also December 23rd.

Company Profile

The Direxion Daily GOOGL Bull 1.5X Shares ETF (GGLL) is an investment fund that tracks the performance of the Alphabet Inc Class A index, providing 1.5x leveraged exposure to the daily price movements of Google stock. The ETF was launched on September 7, 2022, and is managed by Direxion.

Market Trends

Given the recent increase in short interest, investors may want to stay informed about market shifts and trends surrounding Direxion Daily GOOGL Bull 2X Shares. As the market fluctuates, it can influence investment strategies and decisions.

Direxion, GOOGL, shares