Direxion Daily AAPL Bull 2X Shares (NASDAQ:AAPU) Shares Down 6.2% – Should You Sell?

Direxion Daily AAPL Bull 2X Shares (NASDAQ:AAPU) shares dropped 6.2% during trading on Friday . The company traded as low as $19.84 and last traded at $20.24. Approximately 6,000,032 shares traded hands during mid-day trading, an increase of 426% from the average daily volume of 1,140,741 shares. The stock had previously closed at $21.57.

Direxion Daily AAPL Bull 2X Shares Trading Down 6.2%

The company has a market cap of $70.84 million, a PE ratio of 25.83 and a beta of -1.95. The stock has a 50 day moving average price of $23.10 and a 200 day moving average price of $30.76.

Direxion Daily AAPL Bull 2X Shares Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 25th were paid a $0.243 dividend. This represents a $0.97 dividend on an annualized basis and a dividend yield of 4.80%. The ex-dividend date was Tuesday, March 25th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in AAPU. SBI Securities Co. Ltd. raised its stake in Direxion Daily AAPL Bull 2X Shares by 17.8% during the first quarter. SBI Securities Co. Ltd. now owns 3,903 shares of the company’s stock valued at $110,000 after buying an additional 591 shares during the last quarter. PayPay Securities Corp purchased a new position in Direxion Daily AAPL Bull 2X Shares during the fourth quarter valued at $31,000. Dagco Inc. purchased a new position in Direxion Daily AAPL Bull 2X Shares during the first quarter valued at $25,000. JPMorgan Chase & Co. raised its stake in Direxion Daily AAPL Bull 2X Shares by 70.3% during the fourth quarter. JPMorgan Chase & Co. now owns 10,091 shares of the company’s stock valued at $380,000 after buying an additional 4,166 shares during the last quarter. Finally, TRUE Private Wealth Advisors raised its stake in Direxion Daily AAPL Bull 2X Shares by 9.4% during the fourth quarter. TRUE Private Wealth Advisors now owns 60,109 shares of the company’s stock valued at $2,263,000 after buying an additional 5,183 shares during the last quarter.

Direxion Daily AAPL Bull 2X Shares Company Profile

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.