Direxion Daily AVGO Bull 2X Shares (NASDAQ:AVL) Trading Down 7.2% – Here’s Why

Direxion Daily AVGO Bull 2X Shares (NASDAQ:AVL)’s stock price traded down 7.2% on Tuesday . The stock traded as low as $42.60 and last traded at $43.34. 260,411 shares changed hands during mid-day trading, a decline of 48% from the average session volume of 499,049 shares. The stock had previously closed at $46.69.

Direxion Daily AVGO Bull 2X Shares Trading Down 7.2%

The stock has a market cap of $101.85 million and a P/E ratio of -2,167.00. The stock’s fifty day moving average price is $40.07 and its 200 day moving average price is $29.39.

Direxion Daily AVGO Bull 2X Shares Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Tuesday, June 24th were given a dividend of $0.1904 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Tuesday, June 24th. This is an increase from Direxion Daily AVGO Bull 2X Shares’s previous quarterly dividend of $0.13. Direxion Daily AVGO Bull 2X Shares’s payout ratio is currently -2,000.00%.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. boosted its position in shares of Direxion Daily AVGO Bull 2X Shares by 1,843.9% during the 2nd quarter. SBI Securities Co. Ltd. now owns 797 shares of the company’s stock valued at $31,000 after acquiring an additional 756 shares during the last quarter. Hollencrest Capital Management bought a new position in shares of Direxion Daily AVGO Bull 2X Shares during the 1st quarter valued at approximately $43,000. Cresset Asset Management LLC bought a new position in shares of Direxion Daily AVGO Bull 2X Shares during the 2nd quarter valued at approximately $236,000. Prosperity Wealth Management Inc. bought a new position in shares of Direxion Daily AVGO Bull 2X Shares during the 1st quarter valued at approximately $350,000. Finally, Optiver Holding B.V. bought a new position in shares of Direxion Daily AVGO Bull 2X Shares during the 4th quarter valued at approximately $524,000. 2.95% of the stock is owned by hedge funds and other institutional investors.

Direxion Daily AVGO Bull 2X Shares Company Profile

The Direxion Daily AVGO Bull 2X Shares (AVL) is an exchange-traded fund that mostly invests in information technology equity. The fund provides 2x leveraged exposure, less fees and expenses, to the daily price movement for shares of Broadcom Inc stock. AVL was launched on Oct 10, 2024 and is issued by Direxion.