Direxion Daily AVGO Bull 2X ETF (NASDAQ:AVL) Shares Down 4% – Here’s What Happened

by · The Markets Daily

Direxion Daily AVGO Bull 2X ETF (NASDAQ:AVL – Get Free Report)’s stock price was down 4% during trading on Wednesday. The company traded as low as $29.07 and last traded at $29.79. 510,680 shares were traded during mid-day trading, a decline of 29% from the average session volume of 717,177 shares. The stock had previously closed at $31.03.

Direxion Daily AVGO Bull 2X ETF Price Performance

The firm has a market capitalization of $232.36 million, a price-to-earnings ratio of -1,489.50 and a beta of 3.94. The business’s fifty day simple moving average is $35.66 and its 200 day simple moving average is $43.33.

Direxion Daily AVGO Bull 2X ETF Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 22nd were given a dividend of $0.1981 per share. This is a drop from Direxion Daily AVGO Bull 2X ETF’s previous quarterly dividend of $0.2004. The ex-dividend date of this dividend was Tuesday, September 22nd. This represents a $0.79 dividend on an annualized basis and a dividend yield of 2.7%. Direxion Daily AVGO Bull 2X ETF’s payout ratio is currently -64,950.00%.

Institutional Trading of Direxion Daily AVGO Bull 2X ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC raised its stake in Direxion Daily AVGO Bull 2X ETF by 119.0% during the 3rd quarter. Parallel Advisors LLC now owns 2,300 shares of the company’s stock worth $82,000 after buying an additional 1,250 shares during the period. Simplex Trading LLC acquired a new stake in Direxion Daily AVGO Bull 2X ETF in the third quarter valued at approximately $93,000. SBI Securities Co. Ltd. grew its stake in Direxion Daily AVGO Bull 2X ETF by 25.6% in the third quarter. SBI Securities Co. Ltd. now owns 6,530 shares of the company’s stock valued at $233,000 after acquiring an additional 1,330 shares during the period. StoneX Group Inc. acquired a new stake in Direxion Daily AVGO Bull 2X ETF in the third quarter valued at approximately $248,000. Finally, Prosperitas Financial LLC bought a new stake in shares of Direxion Daily AVGO Bull 2X ETF during the third quarter valued at approximately $413,000. 2.95% of the stock is owned by institutional investors.

About Direxion Daily AVGO Bull 2X ETF

(Get Free Report)

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.

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