Direxion Daily GOOGL Bull 2X ETF (NASDAQ:GGLL) Reaches New 52-Week Low – Here’s Why

Direxion Daily GOOGL Bull 2X ETF (NASDAQ:GGLL)’s share price reached a new 52-week low on Thursday. The company traded as low as $62.13 and last traded at $65.7160, with a volume of 2,426,127 shares changing hands. The stock had previously closed at $67.68.

Direxion Daily GOOGL Bull 2X ETF Price Performance

The stock has a market capitalization of $727.13 million, a price-to-earnings ratio of 17.77 and a beta of 2.23. The business’s fifty day moving average price is $94.90 and its 200-day moving average price is $104.54.

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

Large investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC boosted its stake in Direxion Daily GOOGL Bull 2X ETF by 100.0% during the 3rd quarter. Parallel Advisors LLC now owns 600 shares of the company’s stock valued at $60,000 after purchasing an additional 300 shares during the last quarter. Kingswood Wealth Advisors LLC increased its holdings in Direxion Daily GOOGL Bull 2X ETF by 25.0% during the 3rd quarter. Kingswood Wealth Advisors LLC now owns 2,500 shares of the company’s stock worth $249,000 after purchasing an additional 500 shares in the last quarter. Turner Financial Group Inc. purchased a new stake in shares of Direxion Daily GOOGL Bull 2X ETF in the second quarter worth approximately $445,000. IMC Chicago LLC purchased a new stake in shares of Direxion Daily GOOGL Bull 2X ETF in the first quarter worth approximately $437,000. Finally, Bullseye Investment Management LLC purchased a new stake in shares of Direxion Daily GOOGL Bull 2X ETF in the second quarter worth approximately $664,000.

About Direxion Daily GOOGL Bull 2X ETF

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.