Direxion Daily AVGO Bear 1X Shares (NASDAQ:AVS) Shares Down 0.5% – Here’s Why

Direxion Daily AVGO Bear 1X Shares (NASDAQ:AVS)’s share price dropped 0.5% during mid-day trading on Friday . The stock traded as low as $7.37 and last traded at $7.43. Approximately 1,086,212 shares traded hands during trading, an increase of 5% from the average daily volume of 1,036,686 shares. The stock had previously closed at $7.47.

Direxion Daily AVGO Bear 1X Shares Stock Performance

The company’s 50-day moving average is $9.45 and its 200-day moving average is $9.52.

Direxion Daily AVGO Bear 1X Shares Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 24th were given a dividend of $0.0593 per share. This represents a $0.24 annualized dividend and a yield of 3.2%. The ex-dividend date was Tuesday, March 24th.

Institutional Investors Weigh In On Direxion Daily AVGO Bear 1X Shares

Several hedge funds and other institutional investors have recently bought and sold shares of the company. IMC Chicago LLC acquired a new stake in Direxion Daily AVGO Bear 1X Shares during the fourth quarter worth about $2,394,000. Genesis Financial Group LLC acquired a new stake in Direxion Daily AVGO Bear 1X Shares during the fourth quarter worth about $1,868,000. Advisory Services Network LLC acquired a new stake in Direxion Daily AVGO Bear 1X Shares during the second quarter worth about $1,019,000. Optiver Holding B.V. increased its position in Direxion Daily AVGO Bear 1X Shares by 3,790.3% during the third quarter. Optiver Holding B.V. now owns 35,441 shares of the company’s stock worth $375,000 after purchasing an additional 34,530 shares during the last quarter. Finally, World Investment Advisors purchased a new position in Direxion Daily AVGO Bear 1X Shares during the third quarter worth about $147,000.

Direxion Daily AVGO Bear 1X Shares Company Profile

The Direxion Daily AVGO Bear 1X Shares (AVS) is an exchange-traded fund that mostly invests in information technology equity. The fund provides inverse (-1x) exposure, less fees and expenses, to the daily price movement for shares of Broadcom Inc stock. AVS was launched on Oct 10, 2024 and is issued by Direxion.