Direxion Daily AVGO Bull 2X ETF (NASDAQ:AVL) Sees Significant Growth in Short Interest

by · The Cerbat Gem

Direxion Daily AVGO Bull 2X ETF (NASDAQ:AVL – Get Free Report) was the recipient of a large growth in short interest in the month of August. As of August 31st, there was short interest totaling 1,300,437 shares, a growth of 210.2% from the August 15th total of 419,277 shares. Currently, 31.0% of the company’s shares are sold short. Based on an average daily volume of 749,968 shares, the short-interest ratio is currently 1.7 days.

Institutional Trading of Direxion Daily AVGO Bull 2X ETF

Institutional investors and hedge funds have recently modified their holdings of the stock. Group One Trading LLC lifted its position in shares of Direxion Daily AVGO Bull 2X ETF by 374.4% during the third quarter. Group One Trading LLC now owns 593 shares of the company’s stock valued at $31,000 after purchasing an additional 468 shares in the last quarter. Simplex Trading LLC bought a new stake in Direxion Daily AVGO Bull 2X ETF in the 4th quarter worth about $98,000. Cresset Asset Management LLC bought a new stake in Direxion Daily AVGO Bull 2X ETF in the 2nd quarter worth about $236,000. HRT Financial LP purchased a new stake in Direxion Daily AVGO Bull 2X ETF in the 4th quarter valued at about $401,000. Finally, Bullseye Investment Management LLC purchased a new position in shares of Direxion Daily AVGO Bull 2X ETF in the 2nd quarter worth approximately $839,000. 2.95% of the stock is owned by hedge funds and other institutional investors.

Direxion Daily AVGO Bull 2X ETF Stock Performance

Shares of Direxion Daily AVGO Bull 2X ETF stock traded up $0.24 on Friday, reaching $38.42. 571,272 shares of the company’s stock were exchanged, compared to its average volume of 632,306. The company has a market capitalization of $161.36 million, a P/E ratio of -1,921.00 and a beta of 3.87. Direxion Daily AVGO Bull 2X ETF has a 52 week low of $28.95 and a 52 week high of $80.21. The firm’s 50-day moving average is $44.18 and its two-hundred day moving average is $46.39.

Direxion Daily AVGO Bull 2X ETF Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd were given a dividend of $0.2004 per share. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $0.80 annualized dividend and a dividend yield of 2.1%. Direxion Daily AVGO Bull 2X ETF’s payout ratio is presently -64,650.00%.

About Direxion Daily AVGO Bull 2X ETF

(Get Free Report)

The Direxion Daily AVGO Bull 2X Shares (AVL) is an exchange-traded fund that mostly invests in information technology equity. The fund provides 2x leveraged exposure, less fees and expenses, to the daily price movement for shares of Broadcom Inc stock. AVL was launched on Oct 10, 2024 and is issued by Direxion.

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