Direxion Daily GOOGL Bull 2X ETF (NASDAQ:GGLL) Stock Price Up 6.4% – Here’s Why

Direxion Daily GOOGL Bull 2X ETF (NASDAQ:GGLL) shares rose 6.4% during trading on Wednesday. The company traded as high as $102.61 and last traded at $104.1090. Approximately 493,571 shares were traded during trading, a decline of 66% from the average daily volume of 1,438,772 shares. The stock had previously closed at $97.82.

Direxion Daily GOOGL Bull 2X ETF Stock Performance

The stock has a market cap of $1.09 billion, a price-to-earnings ratio of 17.77 and a beta of 2.23. The company’s 50 day simple moving average is $101.53 and its two-hundred day simple moving average is $108.83.

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

Several institutional investors and hedge funds have recently modified their holdings of the stock. Himension Capital Singapore PTE. LTD. acquired a new stake in Direxion Daily GOOGL Bull 2X ETF in the first quarter valued at approximately $15,133,000. Optiver Holding B.V. increased its stake in shares of Direxion Daily GOOGL Bull 2X ETF by 222.2% during the 1st quarter. Optiver Holding B.V. now owns 59,633 shares of the company’s stock worth $4,654,000 after purchasing an additional 41,127 shares during the last quarter. Bullseye Investment Management LLC acquired a new position in shares of Direxion Daily GOOGL Bull 2X ETF during the 2nd quarter worth $664,000. IMC Chicago LLC bought a new position in shares of Direxion Daily GOOGL Bull 2X ETF during the 1st quarter valued at $437,000. Finally, Turner Financial Group Inc. bought a new position in shares of Direxion Daily GOOGL Bull 2X ETF during the 2nd quarter valued at $445,000.

Direxion Daily GOOGL Bull 2X ETF Company Profile

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.