Direxion Daily AVGO Bull 2X Shares (NASDAQ:AVL) Trading Down 6% – Time to Sell?

Direxion Daily AVGO Bull 2X Shares (NASDAQ:AVL) fell 6% on Friday . The stock traded as low as $33.44 and last traded at $33.62. 310,592 shares changed hands during trading, a decline of 51% from the average session volume of 631,018 shares. The stock had previously closed at $35.75.

Direxion Daily AVGO Bull 2X Shares Stock Performance

The firm’s 50 day simple moving average is $38.96 and its 200-day simple moving average is $49.91. The company has a market capitalization of $169.78 million, a price-to-earnings ratio of -1,681.00 and a beta of 9.35.

Direxion Daily AVGO Bull 2X Shares Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Tuesday, December 23rd were given a dividend of $0.1584 per share. This represents a $0.63 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Tuesday, December 23rd. Direxion Daily AVGO Bull 2X Shares’s payout ratio is presently -64,000.00%.

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

Several hedge funds have recently bought and sold shares of AVL. Client First Investment Management LLC grew its stake in Direxion Daily AVGO Bull 2X Shares by 78.6% during the 3rd quarter. Client First Investment Management LLC now owns 40,375 shares of the company’s stock valued at $2,113,000 after acquiring an additional 17,772 shares in the last quarter. IMC Chicago LLC acquired a new position in shares of Direxion Daily AVGO Bull 2X Shares in the 4th quarter valued at about $530,000. Group One Trading LLC lifted its position in shares of Direxion Daily AVGO Bull 2X Shares by 374.4% in the third quarter. Group One Trading LLC now owns 593 shares of the company’s stock worth $31,000 after purchasing an additional 468 shares in the last quarter. Vestor Capital LLC purchased a new stake in shares of Direxion Daily AVGO Bull 2X Shares in the fourth quarter worth approximately $2,209,000. Finally, HRT Financial LP acquired a new stake in shares of Direxion Daily AVGO Bull 2X Shares during the fourth quarter worth approximately $401,000. 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.