Direxion Daily AMZN Bull 2X Shares (NASDAQ:AMZU) Shares Cross Above 50 Day Moving Average – Should You Sell?

Direxion Daily AMZN Bull 2X Shares (NASDAQ:AMZU) passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $34.43 and traded as high as $37.44. Direxion Daily AMZN Bull 2X Shares shares last traded at $35.69, with a volume of 1,651,836 shares changing hands.

Direxion Daily AMZN Bull 2X Shares Trading Down 1.3 %

The stock has a market capitalization of $173.59 million, a price-to-earnings ratio of 120.98 and a beta of -2.52. The company’s 50 day moving average is $34.52 and its 200 day moving average is $33.66.

Direxion Daily AMZN Bull 2X Shares Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 24th were given a dividend of $0.3042 per share. The ex-dividend date was Tuesday, September 24th. This represents a $1.22 dividend on an annualized basis and a dividend yield of 3.46%. This is a boost from Direxion Daily AMZN Bull 2X Shares’s previous quarterly dividend of $0.25.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Client First Investment Management LLC purchased a new stake in shares of Direxion Daily AMZN Bull 2X Shares in the second quarter valued at about $297,000. Hollencrest Capital Management acquired a new position in Direxion Daily AMZN Bull 2X Shares in the 2nd quarter valued at about $37,000. Traynor Capital Management Inc. raised its stake in Direxion Daily AMZN Bull 2X Shares by 56.4% during the 3rd quarter. Traynor Capital Management Inc. now owns 21,500 shares of the company’s stock valued at $697,000 after acquiring an additional 7,750 shares during the last quarter. Regal Investment Advisors LLC acquired a new stake in Direxion Daily AMZN Bull 2X Shares during the 2nd quarter worth approximately $273,000. Finally, Jane Street Group LLC purchased a new position in shares of Direxion Daily AMZN Bull 2X Shares in the 3rd quarter valued at approximately $1,164,000.

Direxion Daily AMZN Bull 2X Shares Company Profile

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