Short Interest in Direxion Daily GOOGL Bull 2X Shares (NASDAQ:GGLL) Declines By 50.3%

Direxion Daily GOOGL Bull 2X Shares (NASDAQ:GGLL - Get Free Report) was the recipient of a significant decrease in short interest during the month of March. As of March 15th, there was short interest totalling 854,200 shares, a decrease of 50.3% from the February 28th total of 1,720,000 shares. Currently, 26.3% of the company's shares are sold short. Based on an average daily volume of 1,060,700 shares, the days-to-cover ratio is presently 0.8 days.

Direxion Daily GOOGL Bull 2X Shares Price Performance

NASDAQ:GGLL traded up $0.89 during mid-day trading on Tuesday, reaching $29.58. The company's stock had a trading volume of 885,362 shares, compared to its average volume of 651,723. The stock has a market cap of $96.14 million, a P/E ratio of 24.98 and a beta of -2.73. Direxion Daily GOOGL Bull 2X Shares has a twelve month low of $27.26 and a twelve month high of $53.72. The company's fifty day simple moving average is $39.38 and its two-hundred day simple moving average is $40.58.

Direxion Daily GOOGL Bull 2X Shares Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 25th will be given a dividend of $0.2172 per share. This represents a $0.87 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend is Tuesday, March 25th.

Hedge Funds Weigh In On Direxion Daily GOOGL Bull 2X Shares

Hedge funds have recently made changes to their positions in the stock. PayPay Securities Corp acquired a new stake in shares of Direxion Daily GOOGL Bull 2X Shares during the 4th quarter worth $31,000. Toth Financial Advisory Corp grew its position in Direxion Daily GOOGL Bull 2X Shares by 107.1% during the fourth quarter. Toth Financial Advisory Corp now owns 1,054 shares of the company's stock valued at $48,000 after acquiring an additional 545 shares during the period. Tower Research Capital LLC TRC acquired a new stake in Direxion Daily GOOGL Bull 2X Shares during the fourth quarter worth about $66,000. Hollencrest Capital Management purchased a new position in shares of Direxion Daily GOOGL Bull 2X Shares in the 4th quarter worth about $92,000. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Direxion Daily GOOGL Bull 2X Shares in the 4th quarter valued at about $201,000.

About Direxion Daily GOOGL Bull 2X Shares

The Direxion Daily GOOGL Bull 1.5X Shares ETF (GGLL) is an exchange-traded fund that is based on the Alphabet Inc Class A index. The fund provides 1.5x leveraged exposure, less fees and expenses, to the daily price movement for shares of Google stock. GGLL was launched on Sep 7, 2022 and is managed by Direxion.