Direxion Daily AVGO Bull 2X Shares (NASDAQ:AVL) Stock Price Up 6.3% – Here’s Why

Direxion Daily AVGO Bull 2X Shares (NASDAQ:AVL)’s stock price were up 6.3% on Wednesday . The stock traded as high as $72.62 and last traded at $71.87. Approximately 410,339 shares changed hands during mid-day trading, a decline of 12% from the average daily volume of 467,132 shares. The stock had previously closed at $67.61.

Direxion Daily AVGO Bull 2X Shares Stock Performance

The firm’s 50 day moving average price is $57.73 and its two-hundred day moving average price is $46.28. The firm has a market cap of $155.96 million, a PE ratio of -3,593.50 and a beta of 9.35.

Direxion Daily AVGO Bull 2X Shares Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 23rd were given a $0.1415 dividend. The ex-dividend date was Tuesday, September 23rd. This represents a $0.57 dividend on an annualized basis and a yield of 0.8%. Direxion Daily AVGO Bull 2X Shares’s payout ratio is currently -2,700.00%.

Institutional Trading of Direxion Daily AVGO Bull 2X Shares

A number of hedge funds and other institutional investors have recently modified their holdings of AVL. Group One Trading LLC boosted its stake in Direxion Daily AVGO Bull 2X Shares by 374.4% during the third quarter. Group One Trading LLC now owns 593 shares of the company’s stock worth $31,000 after buying an additional 468 shares during the period. SBI Securities Co. Ltd. raised its position in Direxion Daily AVGO Bull 2X Shares by 1,843.9% in the second quarter. SBI Securities Co. Ltd. now owns 797 shares of the company’s stock valued at $31,000 after purchasing an additional 756 shares during the period. Cresset Asset Management LLC acquired a new position in Direxion Daily AVGO Bull 2X Shares during the second quarter worth $236,000. Finally, Client First Investment Management LLC purchased a new position in shares of Direxion Daily AVGO Bull 2X Shares during the second quarter worth $879,000. 2.95% of the stock is owned by institutional investors and hedge funds.

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.