Direxion Daily GOOGL Bull 2X ETF (NASDAQ:GGLL) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Direxion Daily GOOGL Bull 2X ETF (NASDAQ:GGLL) saw strong trading volume on Wednesday. Approximately 2,127,238 shares were traded during trading, an increase of 39% from the average daily volume of 1,535,738 shares. The stock last traded at $69.8180 and had previously closed at $63.54.

Direxion Daily GOOGL Bull 2X ETF Stock Performance

The firm has a market cap of $757.74 million, a P/E ratio of 17.77 and a beta of 2.23. The firm’s fifty day simple moving average is $95.61 and its 200 day simple moving average is $104.75.

Institutional Trading of Direxion Daily GOOGL Bull 2X ETF

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Himension Capital Singapore PTE. LTD. bought a new stake in Direxion Daily GOOGL Bull 2X ETF in the first quarter worth $15,133,000. Optiver Holding B.V. raised its stake in shares of Direxion Daily GOOGL Bull 2X ETF by 222.2% in the first quarter. Optiver Holding B.V. now owns 59,633 shares of the company’s stock valued at $4,654,000 after acquiring an additional 41,127 shares during the period. SBI Securities Co. Ltd. raised its stake in shares of Direxion Daily GOOGL Bull 2X ETF by 121.2% in the third quarter. SBI Securities Co. Ltd. now owns 15,392 shares of the company’s stock valued at $1,530,000 after acquiring an additional 8,435 shares during the period. StoneX Group Inc. bought a new stake in shares of Direxion Daily GOOGL Bull 2X ETF in the 3rd quarter worth about $1,210,000. Finally, Bullseye Investment Management LLC purchased a new position in shares of Direxion Daily GOOGL Bull 2X ETF during the 2nd quarter worth about $664,000.

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.