Direxion Daily AVGO Bear 1X ETF (NASDAQ:AVS) Share Price Breaks Below Two Hundred Day Moving Average – Time to Sell?

Direxion Daily AVGO Bear 1X ETF (NASDAQ:AVS)’s share price passed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $8.39 and traded as low as $7.83. Direxion Daily AVGO Bear 1X ETF shares last traded at $8.11, with a volume of 9,754,869 shares changing hands.

Direxion Daily AVGO Bear 1X ETF Trading Up 4.8%

The firm’s 50-day moving average price is $8.36 and its 200-day moving average price is $8.37.

Direxion Daily AVGO Bear 1X ETF Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 22nd were paid a dividend of $0.0430 per share. The ex-dividend date of this dividend was Tuesday, September 22nd. This is a positive change from Direxion Daily AVGO Bear 1X ETF’s previous quarterly dividend of $0.0358. This represents a $0.17 annualized dividend and a yield of 2.1%.

Institutional Trading of Direxion Daily AVGO Bear 1X ETF

Hedge funds have recently bought and sold shares of the stock. Optiver Holding B.V. increased its holdings in shares of Direxion Daily AVGO Bear 1X ETF by 123.0% in the first quarter. Optiver Holding B.V. now owns 4,668 shares of the company’s stock worth $48,000 after purchasing an additional 2,575 shares during the last quarter. StoneX Group Inc. purchased a new stake in shares of Direxion Daily AVGO Bear 1X ETF in the third quarter worth about $158,000. AFG Fiduciary Services Limited Partnership boosted its stake in Direxion Daily AVGO Bear 1X ETF by 85.6% during the second quarter. AFG Fiduciary Services Limited Partnership now owns 20,362 shares of the company’s stock valued at $168,000 after buying an additional 9,391 shares during the last quarter. Finally, Hamilton Wealth LLC bought a new position in Direxion Daily AVGO Bear 1X ETF during the first quarter valued at approximately $205,000.

About Direxion Daily AVGO Bear 1X ETF

The Direxion Daily AVGO Bear 1X Shares (AVS) is an exchange-traded fund that mostly invests in information technology equity. The fund provides inverse (-1x) exposure, less fees and expenses, to the daily price movement for shares of Broadcom Inc. stock. AVS was launched on Oct 10, 2024 and is issued by Direxion.